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Banking stocks extend rally led by Kotak and HDFC ahead of Diwali week
Kotak and HDFC lead banking stock rally as credit growth boosts sentiment.
Banking stocks continued their four-month rally ahead of the Diwali week, driven by strong credit growth and stable deposit inflows. Kotak Mahindra Bank and HDFC Bank led gains on the Nifty Bank index, which rose 1.2% in early trade. Analysts said improving loan demand and rising retail credit penetration are sustaining investor sentiment in the sector despite tighter liquidity conditions.