Sensex Surges Over 400 Points, Nifty Approaches 24,400 as Robust Bank Business Updates Lift Market Sentiment

Indian equity markets witnessed a strong start, with the Sensex climbing more than 500 points and the Nifty nearing the 24,400 mark, driven primarily by encouraging quarterly business updates from leading private sector banks and supportive global cues. According to analysts at Jefferies, $HDFCBANK , $INDUSINDBK , and $BANDHANBNK reported loan growth that exceeded market expectations, reflecting healthy credit demand. Meanwhile, $KOTAKBANK experienced a modest moderation in loan growth compared to previous quarters. The benchmark indices traded nearly 0.6% higher during early trading on July 6, as investors responded positively to the banking sector's operational performance. Market sentiment also received support from Brent crude oil prices remaining below $72 per barrel, easing concerns over inflationary pressures and input costs. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.