SBI top gainer today, up by 2%; Can this be the reason for uptick?
SBI manages to jump high today in trading
The Indian stock market continues to be weak today but largest lender State Bank of India emerged as top performer on the exchanges. On BSE, SBI is trading higher by 1.53% which is Rs 4.40 at 289.40 per piece at around 1359 hrs.
If compared to previous close today, the stock price of SBI has touched an intraday high of Rs 291.25 which would rise of over 2% so far in the trading session.
However even after being in a line of lossers till yesterday SBI manages to jump high today on BSE.
There is not much revealed about the jump in stock price, however, according to a Business Standard report, SBI has kept on hold plans to raise dollar funds through maiden issue of green bonds, due to high volatility in international markets.
Reportedly, SBI was looking to raise over $500 million through green bonds and it moved early this quarter to tap the global market.
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Furthermore, SBI has also introduced various measures for its customers in protecting them from ATM fraud.