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As Nifty Pvt Bank index sets new peak; Here's how to trade banking stocks

Shares of IDFC First Bank, IndusInd Bank, Bandhan Bank, and Axis Bank may surge up to 15 per cent, show technical charts.

Blowout quarterly earnings reported by some of India’s biggest software firms in July have boosted shares
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Nifty PVT Bank index hits new all-time high

Avdhut Bagkar Mumbai

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Nifty PVTBA (Private Bank) index clinched a new historic peak in the previous session, well ahead of Nifty PSUBA (Public Sector Bank). This milestone was buoyed by IDFC First Bank, IndusInd Bank, and Axis Bank, who are resiliently holding the optimistic bias, reaching fresh all-time highs.

On Wednesday, shares of IDFC First Bank, and IndusInd Bank were little shy of reaching further all-time highs in their current bull run. IndusInd Bank shares were trading slightly higher, while IDFC First Bank shares fell 0.40 per cent in an otherwise negative market, where Benchmark indices (BSE Sensex and Nifty 50) witnessed 0.50

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First Published: May 31 2023 | 11:41 AM IST

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