Private banks drove the rally in the banking space that was among the top performers in the week gone by. Strong performance from index heavyweights HDFC Bank and ICICI Bank propelled the sector, Abhishek Chinchalkar, Head of education at FYERS, tells Moneycontrol’s Kshitij Anand in an interview.
Q) A stellar week for Indian markets with both the Sensex and the Nifty rallying more than 3 percent each. What led to the price action on D-Street?
A) Indian stock markets ended on a firm note on October 1 in what was a holiday-shortened week. The market took various positive cues:
Reserve Bank of India (RBI) announced that India’s current account balance (CAB) recorded a surplus of $19.8 billion (3.9 percent of GDP) in the June quarter of FY21, up from the surplus