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Key benchmark indices keep on to rise in the afternoon session driven by a strong rally in PSU Bank stocks.

The Indian banking industry which was dominated by public banks saw the rise of private banks post liberalization. The Indian banking industry today has become a behemoth is the driving force of the Indian economy. The Indian banking family is 12 public banks, 21 private sector banks, 44 foreign banks and 12 Small Finance banks long which is regulated by the apex bank of India- Reserve Bank of India (RBI).

The government has approved Rs.15,000 crore ($3.34 billion) as capital infusion for public sector banks for the current fiscal and said further assistance for the next fiscal would be decided later in consultation with the banks.

Sectoral indices are seen mixed. Nifty bank, Private Banks, Financial Service and Auto witness buying, while Media, IT, FMCG, Metal, Pharma, PSU bank and Realty witness some selling.

All Banking indices including Pvt Bank, PSU bank went down as marginal hint of profit-booking weighted in across baking stocks.

The Nifty PSU Bank, Media and IT rose the most, while the Nifty Financial Service, Metal and Private Bank declined in between 0.20 to 0.52% in range.