Monday shone brightly on the Indian stock markets, with equity benchmarks Sensex and Nifty rallying in the morning. After what has been weeks of uncertain ups and downs, the BSE Sensex finally got back to the 79,000 levels, thanks to lenders HDFC Bank and ICICI Bank. Nifty followed suit, topping 24,000.
In morning trade, the 30-pack Sensex soared around 600 points to hit around 79,152 while the NSE Nifty climbed more than 150 points to reach at least 24,004, helped by better-than-expected earnings by both banks.
The rival market leaders’ net interest income surged more than 10 per cent for the fourth quarter of fiscal 2025. HDFC Bank’s net interest income jumped 10.3 per cent to ₹32,070 crore in the three-month period while ICICI Bank’s core net interest income soared 11 per cent to ₹21,193 crore.
Both lenders saw at least 1 per cent jump in their share price on Monday morning trade. Despite Infosys posting around an 11 per cent slump in consolidated net profit of ₹7,033 crore for the quarter, shares of the IT major traded more than 1 per cent higher as well.
Apart from HDFC Bank and Infosys, other major Sensex gainers were Tech Mahindra, Axis Bank, State Bank of India, and IndusInd Bank. Their gains offset the losses led by Adani Ports, ITC, Airtel, Titan, Hindustan Unilever, and Sun Pharma.
Both ICICI Bank and HDFC Bank posted Q4 results on Saturday
V.K. Vijayakumar of Geojit Financial Services noted how India remains resilient despite the global economic scenario. “India is the only large economy which can grow at 6 per cent even in a slowing global economy. This, along with the declining dollar, has the potential to attract more FPI inflows into India in the short run,” said Vijayakumar.
He even stated that the impressive quarterly numbers of HDFC Bank and ICICI Bank could take the Bank Nifty to an all-time high.
Prashanth Tapse of Mehta Equities Ltd said that market sentiments became optimistic as foreign institutional investors (FIIs) turned net buyers last week. On Thursday alone, as markets closed last week on Easter weekend, FIIs bought ₹4,667.94 crore worth of equities.
In the last three trading days of the week, ₹14,670 crore flowed back to Indian equity markets from foreign investors. Throughout last week, Sensex gained 4.51 per cent and Nifty rose by 4.48 per cent, with weakening American currency adding to the mix.
