Bank Nifty recovered some gains from the previously bearish market tone and were trading on a massive bullish note during Tuesday's trading session as focus shifts to corporate earnings for the March 2021 quarter ending. All stocks listed on Bank Nifty were in the green with heavyweights HDFC Bank, Kotak Bank, ICICI Bank, IndusInd Bank and SBI driving the index most. The index currently trades near the day's high.
At around 2.38 pm, Bank Nifty was trading at 31,777.15 up by 985.15 points or 3.20%. The index has touched an intraday high of 31,781.35 - soaring by over 989 points so far today.
Major stocks like
ICICI Bank, Axis Bank, SBI and IndusInd Bank climbed around 4% each. While heavyweights HDFC Bank and Kotak Bank soared around 2% each.
HDFC Bank would be the first in the sector to present its Q4 result on April 17, 2021.
Among other stocks, Federal Bank soared nearly 8% and emerged as the top gainer in percentage terms on Bank Nifty. IDFC First Bank jumped over 6%.
RBL Bank and PNB zoomed by around 3% each. Bandhan Bank strengthened over 2%. While AU Small Finance Bank advanced nearly 1%.
Bandhan Bank informed exchanges that the bank recorded loans and advances of Rs87,054cr for the fourth quarter ending March 2021 (Q4FY21) period, registering a growth of 21% yoy and 8% QoQ. Further, the bank posted a total deposit of Rs77,972cr in Q4FY21 increasing by 37% yoy and 10% QoQ.