On Wednesday HDFC Bank, the BSE Bankex experienced positive momentum, as it traded at 50,122.15, showing a gain of 235 points or 0.47% compared to the previous day’s closing. This article focuses on the top contributors to the index’s progression and highlights their performances. Out of the 10 stocks in the index, six were trading with gains, while four were trading with declines around 12:40 pm.

1) HDFC Bank

HDFC Bank, one of India’s largest private sector banks, played a significant role in boosting the Bankex Index. The bank’s impressive performance instilled confidence in investors and made a substantial contribution to the overall growth of the index. The latest trading price of HDFC Bank’s stock was Rs. 1,676.90, with a positive contribution of Rs. 130.03.

2) State Bank of India (SBIN)

The state bank of India, also known as SBI, contributed positively with an amount of Rs 58.12 to the Bankex index. This reflects the interest of investors in the banking sector and has strengthened the performance of SBI, which is the largest public sector bank in India. The total contribution of SBI in the index is now Rs 571.30.

3) IndusInd Bank Ltd.

IndusInd Bank, a private bank, has significantly contributed to the rise of the BankEx index. Its strong performance showcases the resilience of the banking sector and has attracted the attention of investors. LTP: Rs 1,332.85 | Contribution: +32.49

4) Axis Bank Ltd.

The price of the Axis Bank’s shares rose by Rs 977.20. Axis Bank, which is a well-known private sector bank, played a major role in increasing the Bankex index. The bank’s positive contribution reflects the optimistic outlook for the banking industry. The focus now is on the Federal Reserve, with everyone watching it closely this Wednesday.

5) ICICI Bank Ltd.

Rs. 938.85 LTP | +22.94 Contribution

One of the top private sector banks in India, ICICI Bank, helped push the Bankex Index upward. Its performance demonstrated enthusiasm for the banking industry and its potential for expansion.

Even Nevertheless, these top-performing equities sparked investor interest and demonstrated the banking industry’s resiliency. The possibility for long-term investment in these equities should be carefully monitored by investors.

The Bankex Index was positively impacted by several firms, while some stocks also saw decreases. Due to a decline in its share price, Kotak Mahindra Bank (-32.55) became the index’s main drag. Bank of Baroda (BoB), Federal Bank, and AU Small Finance Bank were some of the other companies that fell and pulled the index down.