Banking shares get the strength – banking shares get the strength from the market

The yield of ten -year government securities came down to a 3 -year low to see good buying in banking shares today, which led to the benchmark index 0.7 per cent. The day earlier there was the biggest decline in the indices of one month. There was a mixed attitude in markets around the world before the possibility of equal fees by US President Donald Trump.

The Sensex climbed 593 points or 0.78 per cent to close at 76,617. HDFC Bank and ICICI Bank contributed more than half of the Sensex growth. The Nifty climbed 167 points or 0.72 per cent to close at 23,332. Nifty midcap recorded a rise of 1.6 per cent and Nifty Smallcap 1.1 per cent.

The Reserve Bank of India announced an open market operation of Rs 80,000 crore in April, declining the yield of 10 -year government securities 10 basis points to its lowest level after January 2022. Due to this, the Nifty Bank index increased by more than 1 percent. HDFC Bank rose 1.7 percent and ICICI Bank 1.1 percent.

Siddharth Khemka, head of wealth management head of Motilal Oswal Financial Services, said, “The Indian bond yield declined after the RBI announced a bond of Rs 80,000 crore in April. This has increased interest in shopping in banking shares. Optimism in the market was seen in the hope that the US fee would have the minimum impact on the domestic economy. Apart from this, manufacturing PMI stood at 8 months highest level 58.1 in March, which strengthened the positive perception in the market. Globally, investors are waiting for the decision on the fee of President Trump. On Thursday, the domestic stock market is expected to fluctuate as they will react to fee announcements, taking initial indications of global markets.

The Bombay Stock Exchange was in 2,818 share profit and 1,133 in loss. The Sensex’s two-thirds shares were in the lead. The impact of the US trade policy further and the results of the January-March quarter will give direction to the market. Foreign portfolio investors sold a net selling of Rs 1,539 crore. Domestic institutional investors bought shares worth Rs 2,809 crore.

First Published – April 2, 2025 | 10:32 pm IST