Bank shares dazzle; ICICI m-cap hits Rs 8 trn; SBI, Indian Bk soar up to 5%

Bank Nifty hit a new all-time high on Monday led by a rally in ICICI Bank post inline Q4 results. Analysts upbeat on future prospects of the private sector bank.

Stocks of listed banks were in demand, on the stock exchanges, with the Nifty Bank index hitting a new high of 49,320.85 after a strong rally in private and public sector banks amid healthy Q4 results. The banking index surpassed its previous high of 49,057.40 touched on April 10.

Stock prices of ICICI Bank, State Bank of India (SBI), Indian Bank, Yes Bank, AU Small Finance Bank, IDBI Bank, Union Bank of India, Bank of India, Uco Bank and Bank of Maharashtra rallied between 3 per cent and 5 per cent. Share prices of Axis Bank, IndusInd Bank, Kotak Mahindra