Midcap continues to underperform Sensex; Kotak Bank at new high

Kotak Mahindra Bank shares touched a life-time high of Rs 993, up as much as 0.75 percent on addition in the BSE benchmark index.

The exchange, on May 19, had decided to add Kotak Bank (weight 3.5 percent) as well as Tata Motors DVR in the S&P BSE Sensex.

With this, weightage of banking sector in the benchmark index will increase significantly.

The exchange, however, excluded GAIL from the Sensex index.

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Posted in: Indian Market Tips