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Sensex, Nifty Rebound From Day's Low, Nifty Bank Index Soars 3%

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Axis Bank has soared 5 per cent and Kotak Mahindra Bank has actually edged greater by 0.4 percent ahead of resultsThe benchmark indices have actually rebounded from the lows of the day on the back of a stellar rally in ICICI Bank and gains in other banking shares.

As of 10:03 am, the Sensex has actually recouped more than 500 points from the lows of the day and was trading at 61,074.50, higher by 240 points or 0.40 per cent and the Nifty was at 18,166.75, up 50.50 points or 0.29 per cent.

The Nifty Bank has zoomed more than 3 percent to surpass the 41,400 mark.The more comprehensive markets, are nevertheless, underperforming their largecap indices, with the BSE Midcap index and BSE Smallcap index shedding 1.8 per cent and 1.6 per cent respectively.In the currency market, the rupee had diminished 14 paise to 75.04 versus the U.S.

dollar in opening trade on October 25, weighed down firm crude oil costs and a muted trend in domestic equities.

At the interbank forex, the rupee opened on a weak note at 74.98, then fell further to 75.04.

Banking shares are in the limelight post the ICICI results.

ICICI Bank has actually risen over 13 per cent to strike a 52-week high of Rs 867 on the BSE after the bank reported a 29.6 percent increase in net earnings to Rs 5,511 crore in the quarter ended September 2021 compared to Rs 4,251.3 crore in the year-ago period.

The bank's net non-performing possessions (NPAs) declined to Rs 8,161 crore in the September quarter from Rs 9,306 crore in the preceding April-June quarter.Among other banking shares, Axis Bank has actually soared 5 percent and Kotak Mahindra Bank has removed its earlier losses and edged greater by 0.4 per cent ahead of their outcomes arranged on Tuesday i.e.

October 26.

And SBI has extended its current gains by including another 1.5 per cent.

In the midcap banking area, RBL Bank and Federal Bank have gotten around 2 percent each.Among other index heavyweights, L-T and M-M have actually gotten as much as a per cent each on the BSE.On the other hand, Bajaj Automobile, Asian Paints and HCL Tech are trading lower by around 2 percent each on the BSE.

And Tech Mahindra has actually slipped by 1.2 per cent to Rs 1,500 ahead of its September quarter results today.The total market breadth is very weak.

Out of 3,394 shares traded on the BSE, there are 966 advancing shares as against 2,252 decreases.




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