Banking shares ruled firm on the markets in Monday trading amid optimism that the monsoon will be normal, raising hopes for a rate cut in October.

Axis Bank extended its morning rally to advance 3.63 per cent at Rs 571.55. The share had closed the previous week at Rs 551.55.

YES Bank moved up further to hold gains of 3.39 per cent at Rs 858.05 as against its Friday close at Rs 829.90.

ICICI Bank also traded up further to quote at Rs 314.75. This represented a gain of 3.35 per cent on its previous close at Rs 304.55.

Punjab National Bank gained 3.10 per cent at Rs 137.95 as against Rs 133.80 at close last week.

Bank of Baroda was firm but off its morning highs at Rs 146.30. This was a gain of 2.96 per cent on its previous close at Rs 142.10.

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