Banking stocks traded in the green on Tuesday, with the Bank Nifty index rising 1.01% to 49,581.35. Investor sentiment remained positive as major banking stocks posted gains in early trade.
Punjab National Bank (PNB) led the gains, rising 1.68% to ₹93.40, followed by Bank of Baroda, which advanced 1.46% to ₹209.10. Kotak Mahindra Bank climbed 1.33% to ₹1,989.40, while Canara Bank added 1.29% to trade at ₹85.74.
Among the private sector banks, Axis Bank rose 1.22% to ₹1,006.25, and IndusInd Bank gained 1.28% to ₹1,037.20. IDFC First Bank saw a moderate increase of 1.19% at ₹60.23, while State Bank of India (SBI) moved up 1.12% to ₹733.95.
Federal Bank edged higher by 0.98% to ₹182.46, and HDFC Bank rose 0.82% to ₹1,737.15. ICICI Bank also gained 0.83% to ₹1,253.35, while AU Small Finance Bank recorded a marginal increase of 0.44% to ₹504.60.
The positive movement in banking stocks comes amid improved investor sentiment and expectations of continued growth in the banking sector. Analysts attribute the rally to strong fundamentals, credit growth, and easing macroeconomic concerns.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research or consult a financial advisor before making investment decisions.
