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Private Bank shares climbed for two consecutive trading sessions.
At 14:25 IST, the barometer index, the S&P BSE Sensex advanced 622 points or 0.81% to 81,727.57. The Nifty 50 index 162.60 points or 0.65% to 25,209.85.
In the broader market, the Nifty MidCap 150 Index rose 0.63% and the Nifty SmallCap 250 Index added 1.31%.
The market breadth was strong. On the NSE, 2,541 shares rose and 1,064 shares fell. A total of 111 shares were unchanged.
Economy:
Moody’s Ratings raised India’s FY27 GDP growth forecast to 7% from 6.5%, citing resilient domestic consumption, improving investment activity and the economy’s ability to absorb the energy supply shock triggered by the Iran war. The agency said diversified crude oil and natural gas supplies, along with support from state-backed oil marketing companies and tax cuts, had cushioned the impact of higher energy prices. It also pointed to strong capital goods production, rising industrial credit and higher capacity utilisation as signs of a potential recovery in private investment. However, risks include widening price pressures, a deficient monsoon and tighter monetary policy.
Buzzing Index:
The Nifty Private Bank index jumped 1.29% to 29,990.80. The index rose 2.04% in two consecutive trading sessions.
Federal Bank (up 4.68%), IDFC First Bank (up 2.75%), RBL Bank (up 2.45%), Axis Bank (up 2.13%), Yes Bank (up 1.76%) IndusInd Bank (up 1.3%), Bandhan Bank (up 1.04%), HDFC Bank (up 1.01%), Kotak Mahindra Bank (up 0.75%) surged.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.59% to 7.198 compared with the previous session close of 7.156.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 93.7300 compared with its close of 93.7700 during the previous trading session.
MCX Gold futures for 4 December 2026 settlement rose 0.84% to Rs 1,41,705.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.44% to 102.42.
The United States 10-year bond yield added 0.44% to 5.006.
In the commodities market, Brent crude for December 2026 settlement rose 58 cents or 0.63% to $92.07 a barrel. Crude oil prices recovered on Wednesday after falling to two-month lows in the previous session.
Federal Bank Ltd rose for a fifth straight session today. The stock is quoting at Rs 350.55, up 3.71% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.94% on the day, quoting at 22928.65. The Sensex is at 74010.42, down 0.96%. Federal Bank Ltd has added around 5.59% in last one month.
Meanwhile, Nifty Bank index of which Federal Bank Ltd is a constituent, has added around 1.64% in last one month and is currently quoting at 55844, down 0.54% on the day. The volume in the stock stood at 233.93 lakh shares today, compared to the daily average of 75.92 lakh shares in last one month.
The benchmark October futures contract for the stock is quoting at Rs 350.5, up 3.99% on the day. Federal Bank Ltd is up 54.37% in last one year as compared to a 11.28% fall in NIFTY and a 4.29% fall in the Nifty Bank index.
The PE of the stock is 17.13 based on TTM earnings ending September 26.