Banking stocks saw an upward movement in early trade, reflecting positive sentiment in the sector. Among private sector banks, Yes Bank surged 3.04% to ₹17.99, while RBL Bank also gained 3.04%, trading at ₹155.56. Bandhan Bank rose 2.47% to ₹133.53, whereas IndusInd Bank climbed 1.68% to ₹1,041.30. Axis Bank and Kotak Mahindra Bank registered gains of 1.03% and 1.00%, trading at ₹1,004.40 and ₹1,983.00, respectively. Federal Bank, ICICI Bank, and HDFC Bank also showed modest gains.
Among public sector banks, Union Bank of India led the rally with a 3.46% rise to ₹113.53. UCO Bank advanced 2.99% to ₹38.52, while Bank of India gained 2.59% to trade at ₹98.49. Indian Overseas Bank, Punjab & Sind Bank, and Central Bank of India recorded gains of over 1.5%. Bank of Baroda traded at ₹209.36, up 1.59%, and State Bank of India (SBI) climbed 1.13% to ₹734.00.
The overall banking sector showed strength, with most stocks in positive territory, indicating improved investor confidence. We will continue to track the momentum and provide updates accordingly.
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.