Bank Nifty hits record high, crosses 49,300 level; ICICI Bank, Axis Bank, IndusInd Bank shares lead rally

The Nifty Bank scale surged much than 2.4%, oregon implicit 1,100 points, to interaction a caller life-time precocious of 49,399.30 connected April 29, crossing earlier level of 49,057.

The Nifty Private Bank and Nifty PSU Bank indices besides rallied 2% each.

Meanwhile, bulls made a beardown comeback successful the Indian banal marketplace connected Monday with some the frontline indices besides witnessing beardown upward momentum. 

The Sensex jumped 838.61 points, oregon 1.14%, to 74,568.77, portion the Nifty 50 was trading 194.10 points, oregon 0.87%, higher astatine 22,614.05.

Also Read: HDFC Bank vs ICICI Bank vs Axis Bank: Which banal to bargain aft Q4 results?

ICICI Bank shares were the apical gainer connected the Bank Nifty, surging implicit 4% to a grounds precocious with its marketplace capitalization surpassing ₹8 lakh crore for the archetypal time. ICICI Bank stock terms rallied arsenic overmuch arsenic 4.81% to ₹1,160.50 apiece connected the BSE.

The rally successful ICICI Bank stock terms was led by a beardown show by the lender successful the 4th ended March 2024.

ICICI Bank Q4 results reflected resilience with a 17.4% YoY emergence successful its Q4FY24 standalone nett net to ₹10,707.5 crore. The second-largest backstage assemblage lender successful India reported a 8% YoY maturation successful nett involvement income (NII) to ₹19,092.8 crore.

Read here: ICICI Bank Q4 Results: Net nett rises 17% to ₹10,707 crore, NII up 8% YoY; dividend declared

Axis Bank stock terms besides witnessed immense buying involvement connected Monday led by amended - than - expected Q4 results 2024. 

Axis Bank posted a nett net of ₹7,130 crore successful Q4FY24, compared to a nonaccomplishment of ₹5,728.4 crore successful the corresponding play past year. The backstage assemblage lender’s NII roseate 11.5% YoY to ₹13,089 crore. Its nett involvement borderline (NIM) for Q4FY24 stood astatine 4.06%, increasing 5 bps QoQ.

Read here: Axis Bank stock terms hits beingness precocious aft Q4 results 2024. More steam left?

Axis Bank stock terms gained implicit 3% to deed a precocious of ₹1,164.10 apiece connected the BSE with its marketplace headdress rising supra ₹3.5 lakh crore.

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Published: 29 Apr 2024, 02:18 PM IST