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The Economic Times
The Economic Times
Debaroti Adhikary

Nifty Bank rallies 1,000 points; HDFC Bank, IndusInd, Yes Bank, and other stocks jump up to 3%. What lies ahead?

Banking stocks surged on Monday, lifting the Nifty Bank index nearly 1,000 points, as easing geopolitical tensions following the Iran-US peace framework and a sharp decline in oil prices boosted market sentiment. Analysts said attractive valuations and improving macroeconomic conditions could help lenders lead the market rally.

The Nifty Bank index surged nearly 2% to cross the 57,800 mark on Monday, led by heavyweight HDFC Bank, whose shares climbed about 3% to Rs 1,793.50 apiece. The stock has now gained roughly 7% over the past two trading sessions.

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