Bank Nifty, similar to the strength in the broader markets, showcased significant gains to the tune of over 3 per cent or 1,700 points at the day’s high. At the last count, at around 11:28 am, traded higher by 3.19 per cent at 55,305.
Of the 12 stocks making the Nifty Bank index– 11 of them showed advances, with only 1 stock trading in the red.
Primarily, sharp gains in the banking index were led by counters including HDFC Bank, IDFC First Bank, ICICI Bank, SBI and Axis Bank among others.
Fundamental reason fuelling sharp gains in Nifty Bank
Nifty Bank index primarily cheered the biggest cross-border banking sector transaction in the country, which involved Japan’s Sumitomo Mitsui Banking Corporation (SMBC) buying 20 per cent stake in the private sector lender YES Bank from the State Bank of India (SBI) and seven private banks for Rs13,482 crore.
For new positions in Nifty Bank:
Anil Singhvi’s recommends to
- Buy Nifty Bank for targets of 54,175, 54,275, 54,375, 54,600, 54,675, 54,775 and 54,925 with a stop loss at 53,450
- Aggressive traders can sell Nifty Bank in the 54,775-54,975 range for targets of 54,625, 54,375, 54,275, 54,175, 54,100 and 53,925 with a strict stop loss at 55,125
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
