Days Movers: These leading bankers rallied on the bourses on November 07

Know the top gaining banking stocks on Sensex

The frontline index Sensex gained 0.4 per cent or 269 points and closed at 61,219.51 as most sectoral indices ended in green. BSE Bankex gained 1 per cent and closed at 47,781.57. 

SBI, ICICI Bank and HDFC Bank witnessed positive action in today’s session.  

   Shares of State Bank of India Ltd rallied 4.9 per cent as the bank recorded highest-ever quarterly net profit during Q2FY23. Net Profit of the bank increased by 73.93 per cent YoY in Q2FY23 and stood at Rs 13,265 crore, as reported by the lender in its financial results on November 05.  

Net Interest Income (NII) grew by 12.83 per cent from Rs 31,184 crore to Rs 35,183 crore during the same period. The domestic NIM grew by 5 bps YoY in Q1FY23 and stood at 3.55per cent. The advances of the bank grew by 20 per cent from Rs 25,30,777 crore to Rs 30,35,071 crore for the same period.  Its asset quality in the quarter was strong as the gross non-performing loans (GNPA) ratio at 3.52 was down by 138 bps on a YoY basis. At the same time, the net NPA ratio came in at 0.80per cent as against 1.52 per cent in the previous quarter. Shares of this largest PSU logged intra-day high and low of Rs 622.90 and Rs 607.85 and closed at Rs 613.75 with a gain 3.37 per cent. 

  Another constituent of BSE Sensex that rallied was ICICI bank, gaining 1.36 per cent in today’s session to close at Rs 918. The intraday high and low were Rs 919.80 and Rs 903.45 respectively. YTD, the stock has gained 20 per cent, while it has logged a fresh 52 week high of Rs 942.70 on October 25, on the back of strong quarterly numbers. 

  HDFC Bank Ltd also rallied 0.86 per cent at Rs 1510 over its previous close of Rs 1497.10. The largest private lender (by market capitalisation) logged intraday high and low of Rs 1512 and Rs 1492.45 respectively.