In the last Budget, which was pro-growth, Sitharaman had increased capex by 35%. Nifty had welcomed the Budget with great vigour and closed the Budget day session on a cheerful note, up 1.4%.

At the same time, interest income rose to Rs 4,627 crore as compared to Rs 3,919 crore in the same quarter a year ago.On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 5.63 per cent of gross advances as compared to 8 per cent at the end of the third quarter of 2021-22.

The Nifty Bank index was trading 0.43 per cent up at 43387.1.

The Nifty Realty index was trading 0.46 per cent up at 438.1.

The Nifty IT index was trading 0.1 per cent up at 28415.3.

The Nifty Pharma index closed 0.84 per cent down at 12677.1.

The Nifty Auto index closed 1.47 per cent up at 12415.4.

The Nifty Bank index closed 2.31 per cent up at 42630.15.

The Nifty IT index closed 0.53 per cent up at 28385.7.

Frankly speaking yes, banks currently in the last year have outperformed. We should see credit bounce back continuing. We should definitely see all banks performing including other large cap private sector space and PSU banks.

The Nifty Realty index was trading 1.9 per cent down at 416.45.

Currently, it is in a short-term correction. The stock can find support near the 31 level. Long-term investors should keep holding their positions as long as it sustains above the major support level placed around Rs 22. On the higher side, 36 and then 44 levels can be seen.

The Nifty Pharma index closed 2.39 per cent up at 12920.4.

The Nifty Auto index closed 1.43 per cent down at 12695.45.

The Nifty Pharma index was trading 1.33 per cent up at 12786.55.

The Nifty Realty index was trading 0.87 per cent up at 441.5.

The Nifty Auto index was trading 0.02 per cent up at 12882.05.

The Nifty Pharma index closed 0.08 per cent up at 12646.45.

The Nifty IT index closed 0.51 per cent down at 28556.45.

The Nifty IT index was trading 0.61 per cent down at 28526.6.

The counter is making higher highs and higher lows. It has created a strong base in a cluster of the 20-and 50-day moving averages, and the RSI is also holding the 50-mark; therefore, we can expect the bullish momentum to continue.

The benchmark index Nifty has now sneaked below the key swing low of 18,350 on a closing basis. Ideally, looking at the price structure, the development does not augur well for bulls. A close below this support opens the possibility of an extended correction in the coming week

The Nifty IT index closed 1.33 per cent down at 28702.2.

The Nifty IT index was trading 0.61 per cent down at 28911.85.

The Nifty Bank index was trading 0.8 per cent down at 43152.05.

The Nifty Pharma index was trading 0.2 per cent down at 12858.35.

In the Nifty 50 index, 16 stocks were trading in the green, while 33 stocks were trading in the red.

​I think that banks are in for a good time for the next two, three years or so. We heard what Mr Uday Kotak said that this is the Cinderella time for them and I completely agree with that. Rather since the pandemic I have not seen these kind of positive factors coming through all together for the banking industry ever.

PNB Housing: Buy | Target Rs 507 | Stop Loss Rs 455 | The stock has an ascending triangle breakout.

Stocks that were in focus include names like UCO Bank which was up over 14%, Bank of Maharashtra which gained over 4%, and IOB which was up more than 5% on Wednesday.

In the Nifty pack, 34 stocks closed in the green, while 16 stocks ended in the red.

“We expect this outperformance for banks and the tailwind for the sector to continue for 2023. In the short term, after yesterday's inflation print in the US, there is an expectation in some quarters that the US Fed might turn less hawkish in the upcoming policy, which will support the markets,” he added.

Morgan Stanley analysts said PSU banks should see relatively higher margin expansion compared to many private banks over F22-F24, reflecting a higher starting point of liquidity, sharp moderation in NPA formation, reducing interest income reversals and lower share of wholesale deposits relative to select private banks.

In the Nifty 50 index, 40 stocks were trading in the green, while 9 stocks were trading in the red.

The Nifty Pharma index was trading 0.55 per cent up at 12867.8.

The Nifty Realty index was trading 0.82 per cent up at 449.65.

Stocks that were in focus include names like UCO Bank which was up nearly 20%, Yes Bank which gained nearly 14%, and Indian Overseas Bank which closed with gains of nearly 15% on Tuesday.

The Nifty Realty index was trading 0.07 per cent up at 458.2.

The Nifty Pharma index was trading 0.08 per cent down at 12859.35.

Here's what Akhilesh Jat, Category Manager - Equity Research, CapitalVia Global Research, recommends investors should do with these stocks when the market resumes trading today:

"A change in stance to dovish going forward by RBI will lead to rally in the banking segment while a prolonged hawkish stance will impact deposit rates and lead to narrowing NIMs, more so for PSBs," said Anil Rego, founder and fund manager at Right Horizons PMS.

The Nifty Auto index was trading 0.64 per cent down at 12891.05.

The Nifty IT index was trading 0.75 per cent down at 30214.55.

The Nifty Pharma index was trading 0.17 per cent down at 12933.75.

The Nifty Realty index was trading 0.02 per cent up at 463.5.

“There is an anticipation of a significant slowdown in global economic growth next year and if that plays out, it is normally not so great for equities. Markets will become very selective and we need to buy the gainers of the commodity falls, avoid commodity sectors and avoid a lot of globally linked sectors also.”