Bank Nifty Surges 1.26% on April 28: Top Gainers Include ICICI, HDFC, and Axis Bank

The Bank Nifty index surged by 689.70 points, or 1.26%, on April 28, 2025, closing at 55,353.75. The index, composed of the 12 largest and most liquid banking stocks in India, witnessed broad-based gains across all its constituents.

As of noon on April 28, 2025, all shares were in the green, reflecting a strong positive sentiment in the banking sector. 

Heavyweights Lead the Rally

The strong upward movement in Bank Nifty was largely driven by ICICI Bank and HDFC Bank, which played a pivotal role in lifting the index.

These two stocks, along with Axis Bank and State Bank of India, which also saw solid gains, were the major contributors to the index’s positive movement.

Key Contributors to the Rally

• ICICI Bank: ₹1,429.50 (+1.76%) — Contributed 259.50 points to the index.

• HDFC Bank: ₹1,922.30 (+0.58%) — Contributed 124.35 points to the index.

• Axis Bank: ₹1,184.90 (+1.59%) — Contributed 78.31 points to the index.

• SBI: ₹811.15 (+1.57%) — Contributed 70.75 points to the index.

Performance of Bank Nifty in April

Bank Nifty has a historical tendency to perform well in April, with the index registering positive returns in 13 out of the past 17 years. In April 2009, the index saw an extraordinary positive change of 24.14%, which stands as the highest recorded for the month.

• Max Positive Change: 24.14% (2009)

• Max Negative Change: A relatively smaller dip, maintaining the positive trend in April.

• Average Positive Change: Consistently strong performance across the years.

The index’s current rally is aligned with this historical trend, with investor optimism supported by strong corporate earnings and positive macroeconomic indicators.

Understanding Bank Nifty

The Nifty Bank Index consists of 12 of India’s largest and most liquid banking stocks, providing a reliable benchmark for the performance of the financial sector. The top stocks in the index by weightage include:

• HDFC Bank Ltd. – 38.91%

• ICICI Bank Ltd. – 27.15%

• Axis Bank Ltd. – 9.02%

• State Bank of India (SBI) – 8.3%

These heavyweights drive the movement of the index, exerting the most significant influence on its overall performance.

Read More: RBL Bank’s Share Price Jumps 6% Post Q4 FY25 Earnings; Know What’s Driving the Rally.

Outlook for Bank Nifty

As Bank Nifty continues its positive momentum, investors are closely watching the performance of the banking sector, particularly the impact of macroeconomic factors, regulatory changes, and quarterly earnings reports. Given the historically strong performance in April, there is cautious optimism for sustained growth in the coming days.

Conclusion

The Bank Nifty index’s 1.26% rise on April 28, 2025, highlights the strong performance of the banking sector, led by heavyweights like ICICI Bank and HDFC Bank.

With all 12 constituent banks posting gains, the index’s positive trajectory is reflective of investor confidence in the sector. As the month progresses, Bank Nifty is poised to continue serving as a key barometer for India’s banking and financial market performance.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

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