Markets log biggest 5-day gains in 4 yrs as banks rally

Strong earnings from ICICI and HDFC Bank lifted the banking index on Monday

- Reuters

India's benchmark indexes logged their biggest five-day gains since February 2021, boosted by heavyweight financials following better-than-expected earnings, while a weaker US dollar further propped up investor sentiment.

The Nifty 50 gained 1.15% to 24,125.55 on Monday, while the BSE Sensex rose 1.09% to 79,408.50. In the last five sessions, the benchmarks have risen nearly 8%.

Financials, which comprise over 37% of the Nifty 50, have jumped 9.5% in five sessions and hit lifetime highs.