![Bank Nifty extends fall for 2nd day; SBI, HDFC, Axis, ICICI Bank down up to 2%](https://images.assettype.com/fortuneindia%2F2022-02%2Ffa991a39-70cf-460a-8fdd-e0fb0e7ca399%2FNSE_MG_2774_copy.jpg?rect=0,130,2880,1440&w=300&q=95)
Bank Nifty extends fall for 2nd day; SBI, HDFC, Axis, ICICI Bank down up to 2%
10 out of 12 Nifty bank stocks were trading lower, barring Federal Bank and AU Small Finance Bank.
10 out of 12 Nifty bank stocks were trading lower, barring Federal Bank and AU Small Finance Bank.
In the BSE Sensex pack, 11 out of 30 stocks ended in green on Budget day, led by Titan, ITC, Adani Ports, NTPC, and Infosys.
Bucking the trend, the BSE midcap and smallcap indices ended higher, rising 1.2%, and 0.8%, respectively.
Most brokerages have maintained ‘Buy’ ratings on HDFC Bank, projecting target price to be in the range of ₹1,850 to ₹2,000.
The lender’s gross advances grew 52.6% YoY to ₹24.87 lakh crore in Q1 FY25, but dropped 0.8% QoQ; total deposits rose 24.4% YoY and flat QoQ to ₹23.79 lakh crore.
A bigger and more stable post-merger balance sheet is creating massive synergies and opportunities in attracting more business.
Sensex journey from 70,000 to 80,000 levels has been significantly fast, covering 10,000 points in less than seven months, precisely 138 trading sessions, which is the fastest ever.
The share price of HDFC Bank rallied 3.5% to touch a fresh 52-week high of ₹1,791.90 on the BSE today.
There are challenges to be fought on multiple fronts, ranging from the rise of Generative AI to the democratisation of brand-building, and much more.
The growth in bank credit offtake has been fuelled by the merger between HDFC Bank and HDFC.