HDFC Bank shares in focus as India’s largest private sector lender to announces Q3 results

Sensex, Nifty opened on an optimistic note mainly due to buying in heavyweights Infosys and HDFC Bank

Mumbai: Equity benchmark indices Sensex and Nifty began the trade on an optimistic note on Wednesday mainly due to buying in index heavyweights Infosys and HDFC Bank amid a mixed trend in global markets.

The 30-share BSE Sensex climbed 366.49 points or 0.48 per cent to trade at 76,204.85. On similar lines, the broader NSE Nifty advanced 80.60 points or 0.35 per cent to 23,105.25.

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In the Sensex pack, Infosys, Sun Pharmaceutical, Tata Consultancy Services, ITC, ICICI Bank, Titan, Tech Mahindra, HDFC Bank, Bharti Airtel and Bajaj Finance were among the gainers.

HDFC Bank will announce its earnings for the third quarter of the financial year 2024-25 on January 22. India’s largest private sector lender is expected to see muted net profit growth, according to analysts.

HDFC Bank stocks were up 0.26% and trading at Rs 1,646.00 on Wednesday at 12:33 pm.

The banks reported a 5.3 per cent rise in net profit to Rs 16,821 crore in the second quarter of fiscal 2024-25 as against Rs 15,976 crore in the same period previous year.

Meanwhile, Zomato, Tata Motors, PowerGrid, IndusInd Bank, State Bank of India, Tata Steel and Adani Ports were the major laggards on the BSE.