Bank stocks roar back to record biggest daily gain in 3 years
Banking stocks stage a significant rebound, recording the largest gains in over three years, led by HDFC Bank, Bandhan Bank, and IndusInd Bank. Market confidence rises amid support for the BJP from allies and short covering.
After a disastrous Tuesday, banking stocks roared back to the biggest gains in over three years today, driven by a robust in , , and among others.dropped nearly 8% the previous day after the failed to keep up with expectations and as its tally fell below the 300 mark in the .
"The support pledged by the allies has given confidence to the as there were uncertainties around this. Some shorts being covered in banks due to weekly expiry has also driven the bank stocks up," said Deepak Jasani, Head of Retail Research at HDFC Securities.
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Source: Stocks-Markets-Economic Times
