Investors focus on 'Nifty Bank' to Strong Results from Private Banks: Analyst

Mumbai, April 20 (IANS). Investors will focus on the Bank Index Nifty Bank on Monday after HDFC Bank and ICICI Bank have introduced strong results in the fourth quarter of FY 25. This information was given by the analyst. The analyst says that due to strong results of banks, positive action can be seen in the sessions that come in the stock market. There is a quick trend in bank shares. In the last trading session, the Nifty Bank rose 2.2 percent to close at 54,290.20, which is its 52 week high from 54,467.35 to 177 points. At the same time, over the past one week, the Nifty Bank has seen an increase of 3.287 points or 6.45 percent. The reason for the rally in bank shares is to increase in HDFC Bank and ICICI Bank, which shows that the confidence of investors remains in this sector. In the fourth quarter of FY 25, the independent profit of HDFC Bank rose 6.7 percent to Rs 17,616 crore year -on -year. The profit rose by 5.3 percent quarterly. ICICI Bank, the country’s second largest private bank, has also introduced good results. In the fourth quarter of FY 25, the bank’s profit rose 18 percent to Rs 12,630 crore year -on -year. In addition, the achievement of Yes Bank in the January-March quarter was also strong. Bank’s profits rose 63.7 percent to Rs 738.12 crore year -on -year. According to market experts, Bank Nifty created a strong bullish candlestick on the daily map, with a high level of 54.407.20, which is only 60 points away from its high level. In the last seven trading sessions, the index achieved a strong profit of 10.68 percent, which is an increase in more than 5.250 points from the recent swing. Choice Broking said: “Almost near 54,290 with continuous one -sided fast and strong volume indicates aggressive purchase. Any decline in the direction of 53,600 or 53,000 should be used as a buying opportunity. ABS/