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BFSI stocks in a week: Nifty Bank recovers nearly 8%; HDFC, ICICI Bank drove index

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BFSI stocks in a week: Nifty Bank recovers nearly 8%; HDFC, ICICI Bank drove index

BFSI stocks in a week: Nifty Bank recovers nearly 8%; HDFC, ICICI Bank drove index

Indian equities hit a multi-year high as Nifty surged 8.58% past 25,000 and Sensex jumped 8.8% to 81,028—marking their strongest weekly rally since Feb 2021, powered by massive FII inflows, plunging crude oil. Bank Nifty Index gained 4,400 points surging by 8% this week with double-digit gains in heavyweights HDFC Bank and ICICI Bank.

Nifty Bank +8.04% this week and Nifty Financial Services +2.57% on Friday

Nifty Bank closed 59,085 SBI’s Q2 profit rose 14.28% to Rs 23,038 crore

Foreign investors bought about Rs 15,000 crore of Indian stocks on Thursday, their biggest single-day net purchase in nearly six years. Brent fell below USD 100 earlier in the week, easing worries over imported inflation, the current account deficit and the rupee. Investors also bet that the US midterm outcome could hasten an end to the US-Iran conflict. The Bank Nifty index recorded a strong rally during the week ended November 6, gaining around 4,400 points to close at 59,086, compared with 54,837.20 on November 2. The banking index rose 8.04% over the previous week's close of 54,686.95, touching a weekly high of 59,086 and a low of 54,582. Advt

Banks: private lenders lead HDFC Bank and ICICI Bank drove the index. 78%. 20, setting it’s new 52 week high. 7% higher on the week. 99% to Rs 480. 69% to Rs 49,143 crore. 36%. Profit included an exceptional gain of ₹7,288 crore, and that earnings-quality question weighed on the stock.


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