Bypassing weak global signals, benchmark Sensex and Nifty reached a high of four months high for the sixth consecutive day due to an increase in banking shares. The Sensex rose 187 points, or 0.24 per cent, closed at 79,596, while the Nifty-50 index ranked at 24,167 with an increase of 42 points, or 0.2 per cent. This is the highest closed level of both index since January 2. In the last six trading sessions, the Sensex and Nifty have risen by about 8 per cent. Meanwhile, the bank Nifty gained 0.6 per cent to close at 55,647 on the second day at the new record level. In the last six sessions, the index measuring the performance of the banking sector has increased by 11 per cent.
This speed came after the Reserve Bank of India on Monday to determine the proposed buffer rate of 2.5 per cent from the proposed buffer rate on the deposited deposits and to reduce the ‘run-off’ factor on wholesale deposits in banks from non-financial institutions. IIFL Capital has estimated that these measures may increase the net interest margin of banks by 1 basis points to 18 basis points and can increase the net profit by about 1 to 4 percent.
HDFC Bank and ICICI Bank achieved a record height in the third consecutive session, with the market price of Rs 15 lakh crore and above Rs 10 lakh crore. Kotak Mahindra Bank also touched all -time high levels with a gain of 1.2 per cent.
Most global markets declined on Tuesday as the latest attacks on the Federal Reserve President Jerome Powell by US President Donald Trump increased the pressure on the markets already hitching due to the concerns of the trade war. The dollar index reached a three -year low while gold prices reached $ 3,500 an ounce.
The shares of information technology companies, which received a large part of revenue from the US, declined and the Nifty IT index recorded a weakness of 0.6 per cent due to dollar weakness. On the other hand, mid and smallcap indices increased by 0.7 percent and 0.8 percent respectively.
Talking about other shares, consumer companies Hindustan Unilever and ITC increased by more than 2 per cent as UBS upgraded the shares from neutral based on the strong financial year 2026 development possibilities.
First Published – April 22, 2025 | 10:26 PM IST
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