Sensex closes above 82,700 points, ICICI Bank boosts rally
Markets had a strong Wednesday—Sensex climbed 540 points to 82,727 and Nifty rose 159 points to close at 25,220.
The rally was powered by record earnings from HDFC Bank and ICICI Bank, even though some midcap and banking stocks lagged behind.
For quick gains, ICICI Bank looks like a better bet
ICICI Bank stood out with a jump in profit, thanks to solid loan growth and steady asset quality.
HDFC Bank's profits also grew but faced headwinds from slower loan growth.
For anyone eyeing quick gains, ICICI looks like the more promising pick right now.
What happened to other stocks?
Auto stocks sped up by 1% on hopes that US tariffs might ease soon. Reliance Industries also edged higher.
Meanwhile, Infosys dipped ahead of its earnings report, while Colgate-Palmolive dipped after its earnings report, and SpiceJet soared over 6% after a Supreme Court win.
Midcaps were mixed as real estate stocks saw some big trades.