Nifty Scales Above 24,150; Banking Majors Report Strong Q4 Numbers
Domestic equity benchmark indices reported minor gains in the afternoon trade, buoyed by weak US dollar and healthy earnings from banking majors including ICICI Bank and HDFC Bank.
Nifty Scales Above 24,150; Banking Majors Report Strong Q4 Numbers
Domestic equity benchmark indices reported minor gains in the afternoon trade, buoyed by weak US dollar and healthy earnings from banking majors including ICICI Bank and HDFC Bank. Nifty clocked above the 24,150 mark as all the sectoral indices on the NSE traded in green except the Nifty FMCG index.
Investors are also keeping a close watch on the upcoming Spring Meetings of the World Bank Group and the International Monetary Fund (IMF), which is set to be held between April 21 to April 26 at Washington, D.C. The agenda of the meeting is the ripple effects of trade tensions on global growth and updates on the progress of the World Bank and IMF’s initiatives.
As of 1:27 pm, S&P BSE Sensex went up by 992.38 points or 1.26% to 79,545.58, while the Nifty 50 index surged by 308.50 points or 1.29% to 24,160.15.
On the 2,851 shares soared while 1,138 shares fell. A total of 175 shares were unchanged.
Gainers and losers
Shares of Tech Mahindra (up 6.18%), IndusInd Bank (up 4.46%), Bajaj Finserv (up 3.97%), HCL Technologies (up 3.88%) and Axis Bank (up 3.60%) were the major gainers on the Nifty. Adani Ports and Special Economic Zone (down 1.68%), HDFC Life Insurance Company (down 1.56%), Hindustan Unilever (down 0.85%), ITC (down 0.75%) and Bharti Airtel (down 0.50%) lost their sheen in today’s trading session.
Stocks in focus
Shares of HDFC Bank soared by 6.68% after the banking major reported a net profit of ₹17,616.14 crore in Q4 FY25, compared to ₹16,511.85 crore in the corresponding quarter a year ago. Total income fell marginally to ₹89,487.99 crore in Q4 FY25, down 0.17% against ₹89,639 crore in the corresponding period a year ago.
ICICI Bank surged by 0.30% after reporting a standalone net profit of ₹12,629.58 crore in Q4 FY25, up 17.95% as compared to ₹10,707.53 crore in Q4FY24. Total income went up by ₹49,690.87 crore in Q4 FY25.
Yes Bank shares went up by 4.37% after the private lender reported a net profit of ₹738.12 crore in Q4 FY25, up 63.34% on YoY basis. Total income increased by 3.76% YoY to ₹9,355.39 crore in Q4FY25.
