Canara Bank, IDFC: Budget 2022 gives wings to these financial stocks

IDFC Limited has crossed major resistance of Rs 65, which it had been struggling to conquer since late 2016

Equity markets extended their Budget-day rally into second day on Wednesday as the government's pro-growth proposals, along with continuation of long-term reforms in the budget boosted investor confidence. The frontline BSE Sensex and the Nifty indices gained 1 per cent each today, after rising 1.4 per cent yesterday.

Large part of Wednesday's rally was due to robust buying in financial stocks that are set to gain due to Budget proposals. HDFC Bank, Kotak Bank, Axis Bank, Bajaj twins, and HDFC were 6 of the top 10 Sensex contributors today. Meanwhile, Canara Bank hit a new 52-week high and IDFC ltd is