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Bank Nifty hits a new high on strong Q4 show by most lenders, FPI buying

Analysts see greater momentum going forward, with 10-12% upside in the index over next 12 months

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BS Reporter Mumbai

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Continuing buying interest across the pack helped the Bank Nifty index improve its new high on Tuesday. The index of banking stocks ended Tuesday's session at 44,436, a gain of 124 points or 0.3 per cent. On Monday, Bank Nifty hit a new high after a gap of 166 days.

Analysts said strong results posted by most banks, margin expansion, improved asset quality and growth in loan book have helped to buy in banking stocks.

"The index is witnessing a strong breakout and could see further momentum from hereon, and the index can now head towards the 45,000-46,000 zone in

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First Published: May 30 2023 | 7:03 PM IST

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