On October 17, 2025, the Bank Nifty index surged 0.7%, gaining over 400 points to close at a new record high of 57,823. This marks a significant milestone for the banking sector, which has been on a steady upward trajectory since March. The rally comes ahead of the Q2 earnings announcements from HDFC Bank and ICICI Bank, two of the sector’s bellwethers.
Sector Momentum: Banking Stocks Lead the Charge
The banking sector has shown remarkable resilience and growth in recent months. Since the March 2025 lows, the Bank Nifty has gained nearly 10,000 points, reflecting investor confidence in the sector’s fundamentals.
Top gainers since March include:
- HDFC Bank: up 18%
- ICICI Bank: up 18%
- Axis Bank: up 17%
- Kotak Mahindra Bank: up 15%
- IDFC First Bank: up 28%
- State Bank of India: up 22%
- Federal Bank: up 19%
- Canara Bank: up 52%
- AU Small Finance Bank: up 46%
This broad-based rally highlights strong performance across both private and public sector banks.
Earnings Watch: HDFC and ICICI in Focus
Investors are eagerly awaiting Q2 results from HDFC Bank and ICICI Bank, expected to be released on October 18. Analysts anticipate robust growth in net interest income, healthy loan disbursals, and stable asset quality. These results could further boost sentiment and drive momentum in banking stocks.
Technical Outlook: Bullish Breakout Confirmed
The Bank Nifty’s breakout above its previous high of 57,628 signals a continuation of the bullish trend. Technical analysts suggest that the index now finds support around 57,500, with potential upside targets of 58,500 and beyond if earnings meet expectations.
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