By Admin 
The banking sector is once again in the headlines in the Indian stock market. HDFC Bank and ICICI Bank presented great results in the fourth quarter of FY 2024-25, which has returned confidence in investors and is expected to be a special focus on the Nifty Bank Index on Monday. Market analysts believe that after the better performance of these major banks, there may be a positive trend in banking stocks.
Banking sector getting stronger
In the last trading session, the Nifty Bank closed at 54,290.20 with a rapidly of 2.2 per cent, which is just 177 points from 54,467.35, the highest level of its 52 -week. In the last one week, the banking index has seen a tremendous jump of 3,287 points, that is, a increase of about 6.45 percent has been recorded. It is an indication that there is a positive feeling about the banking sector in the market.
Three big private banks showed strength
HDFC Bank, ICICI Bank and Yes Bank, these three private banks did not disappoint their investors in the fourth quarter. HDFC Bank’s standalone net profit has increased by 6.7 percent to Rs 17,616 crore on an annual basis. It has also increased by 5.3 percent on a quarterly basis.
At the same time, the country’s second largest private bank ICICI Bank has earned a profit of 12,630 crores with an annual increase of 18 percent. While the performance of Yes Bank was also a comfort, which recorded a profit of ₹ 38.12 crore with an annual growth of 63.7 per cent.
Bulish signals are also showing technical charts
According to technical analysts, the Nifty Bank has created a strong bullish candle on the daily chart, with a high level of 54,407.20. This is just 60 points away from its all -time high level. In the last seven trading sessions, Bank Nifty has shown a rise of about 10.68 per cent and has jumped 5,250 points from its recent swing.
Where will the bank Nifty go in the coming days?
According to a report published on Zee Business, Choice Broking believes that Nifty Bank’s closure near 54,290 shows that there is aggressive purchases in the market. The firm suggests that if the bank Nifty rests above 54,300, it can go from 55,000 to 56,000 levels in the next few sessions. The broking house believes that if there is any decline in the market, 53,600 or 53,000 levels should be seen as a purchase opportunity.
Disclaimer: (The information provided here is being given only for information. It is necessary to tell here that the investment in the market is subject to risks. Always consult expert before investing as an investor. Abplive.com is never advised to invest money here.)
Also read: FPIs are investing money in Indian shares fiercely for mistake, Rs 10,824 crore invested in 2 days