Financials lead India market rebound in November

ICICI Bank

Today 06:09

** Financials .NIFTYFIN have led India's market rebound in November, surging 12.5% against a 9.4% rise in the Nifty 50 .NSEI
** Easing concerns over the Middle East conflict and oil prices, alongside an unwinding of AI-linked trades, have supported the recovery
** Large-cap banks outperformed, whereas smaller private banks and insurers lagged, says Jefferies
** Comparison with March 2026 (at the start of the US, Israeli war on Iran) shows that HDFC Bank HDBK.NS, ICICI Bank ICBK.NS have retraced a majority of their momentum, according analysts led by Prakhar Sharma of Jefferies
** Axis Bank AXBK.NS, SBI SBI.NS, M&M Financial Services MMFS.NS, SBI Cards SBIC.NS, Shriram Finance SHMF.NS have scope to retrace, Jefferies says
** HDBK, which was down about 22% between February-end and October-end, is up 16% in November
     

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))