HDFC Bank, IndusInd Bank and AU Small Finance Bank to see highest inflows due to increase in weightage; SBI, ICICI Bank and Kotak Mahindra Bank may see highest outflows
Analysts say, performance of the banking stocks would remain key if the market has to climb higher
In mid-2020, the RBI had come up with the circular that specified which bank can open a current account for a borrower, in order to check any misuse through multiple current accounts.
Banking, finance and IT counters accounted for most of the losses, while strong demand for metal stocks cushioned the fall
At the closing bell, the 30-share BSE index quoted 221.52 points or 0.42 per cent higher at 52,773.05
The month saw a sharp turnaround in fortunes with overseas investors selling shares worth nearly $900 million during the first half and pumping in close to $500 million during the second
This is on account of a change in weighting of its components
IT companies dominate the list of stocks that hit lifetime highs this year, followed by banks and financial services.
Mixed overseas cues and a weakening rupee capped the gains, traders said
A breakout in SBI share may result in a rally towards Rs 450 levels
Over the last four sessions, the Sensex has gained 1,248.90 points or 2.58 per cent.
HDFC Bank disappointed, while ICICI Bank's Q4 boosted sentiment lifting many peers too
Sensex gains 0.94%; Bank Nifty rises 1.5%
The implosion of Archegos Capital and the resulting losses for global banks is likely to intensify regulatory efforts to curtail the ballooning shadow banking sector and shed light on its risks
Japan's Nomura and Credit Suisse of Switzerland warned of major losses from lending to Archegos for equity derivatives trades, triggering a worldwide sell-off in banking stocks
The Nifty Bank Index added 1.28% and is up more than 17% since February. HDFC Bank Ltd was the top boost to the Nifty 50, rising 1.7%
Sector now has 34.8% of FPI assets, up from 33.8% in Jan; flows drove banking index to all-time high
On Thursday, the Nifty PSU Bank index, a gauge for the performance of state-owned banking stocks, rose 5.6 per cent
Top performers within domain include Tata Banking & Financial Services (15.6%), SBI Banking and Financial Services Fund (16.3%) and Sundaram Fin Services Opp (15.5%)
Retail NPA ratios for December quarter at 10-year high for most private banks