Financials extend rally; IndusInd, Shriram Transport surge over 20% in 1 wk

In the past week, the S&P BSE Finance index has rallied 10 per cent, against a 5 per cent gain in S&P BSE Sensex.

Shares of financials, including banks, non-banking financial companies (NBFCs), housing finance companies (HFCs) and microfinance institutions (MFIs), continued trading higher for the fifth straight day on Friday, after companies reported a good set of numbers and asset quality improvement in September quarter (Q2FY21).

CSB Bank, Spandana Sphoorty Financial, Indiabulls Housing Finance, RBL Bank, Shriram Transport Finance and Manappuram Finance from the S&P BSE Finance index were up more than 5 per cent on the BSE. Bajaj Finserv, IndusInd Bank, DCB Bank, CreditAccess Grameen and Muthoot Finance were up between 3 per cent and 5 per cent.

At 02:26