HDFC Bank Leads The Bank Stocks Pushes Up The BSE Bankex

The BSE Bankex is trading higher by 0.5% at the 245665 level. The Bank Nifty index is trading higher by 0.7% at 21714 levels.

HDFC Bank is the top gainer in the banking space, in Monday’s trading session. The stock is trading higher by around 2.5% at Rs 1533 per share. The company’s net profit for Q4FY17 increased by 18.3% on a YoY basis to Rs 3990 Cr.

HDFC Bank, Kotak Bank and Axis Bank are the three private bank stocks which are contributing the most to the Bankex's gains.

The PSU Bank stocks are trading almost flat with a slightly positive bias. Orient Bank is the top gainer in the Nifty PSU Bank index, trading higher by 1.8% at Rs 156.3 per share.

Surprisingly, the Bank Nifty futures contract of May series is trading at a discount of 27 points.

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