Indian bank stocks surged Tuesday with Nifty Bank climbing over 1% to 57,242. AU Small Finance Bank led gains with a 4% jump to a fresh 52-week high of Rs 1,042.10, buoyed by board approval announcements for Q4 results and potential fundraising. HDFC Bank, SBI, and Yes Bank also rose up to 4%, while ICICI Bank, Axis Bank, and Federal Bank gained over 1% each. Both private and PSU bank indices climbed around 1%. Technical analysts see resistance at 57,300 and support at 56,000 levels. Recent earnings showed strength with HDFC Bank reporting 9% profit growth to Rs 19,221 crore and ICICI Bank up 8.5% to Rs 13,702 crore. However, brokerages warn volatility may persist due to geopolitical tensions and crude oil price fluctuations, with short-term support identified at 54,500-54,000 zone.
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