Sensex on Friday crossed the 60,000-point mark in a historic bull-run making the jump from 50,000 in just 8 months, a record pace. The 30 share BSE SENSEX equity benchmark index climbed 10,000 points – from 50,000 points to 60,000 -- between January and September, making it the shortest time for such gains. The 30-script sensitive index crossed the milestone just after the pre-open session on the back of a rally driven by large caps with many index heavyweights touching their respective highs. The main contribution behind its push was given by India’s banking sector, with small banks leading the charge. However, Bombay Stock Exchange’s (BSE) Bank index Bankex has underperformed with around 21% gains in comparison to the Sensex which gained by 25.44% in the same time period. Indian Overseas Bank and State Bank of India are the top 2 banking gainers in 2021, so far. Here are the top 10 performing banks in 2021:
1. Indian Overseas Bank
Major Indian nationalized bank, the Indian Overseas Bank topped the list with a Year-To-Date (YTD) performance of 88.25.
2. State Bank of India
India’s largest financial service company State Bank of India comes 2nd on the list with a YTD performance of 57.79.
3. Equitas Small Finance Bank Ltd.
Founded in 2016, Equitas Small Finance Bank is a small finance bank headquartered in Chennai. It comes 3rd on this list with a YTD performance of 56.95.
4. The Jammu & Kashmir Bank Ltd.
Headquartered in Srinagar, the Jammu and Kashmir Bank is a commercial bank and one of India’s oldest private banks. It comes 4th on the list with a YTD performance of 49.49.
5. Central Bank of India
Another nationalized bank, the Central Bank of India is a Banking company headquartered in Mumbai. It comes at 5th on the list with a YTD performance of 48.94.
6. Indian Bank
Headquartered in Chennai, the Indian Bank is a financial services and banking company. It has a YTD performance of 44.51.
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7. CSB Bank Ltd.
Headquartered in Kerala, the CSB Bank is a privately owned banking company with a network of 450 branches all over India. It has a YTB performance of 38.46.
8. ICICI Bank Ltd.
Headquartered in Mumbai, the ICICI Bank is an Indian financial services company and one of the premier banks in the country, It has a YTB performance of 36.99.
9. Bank of Maharashtra
Headquartered in Pune, the Bank of Maharashtra is a financial service bank with one of the highest customer base in the country. It has a YTB performance of 32.04.
10. IndusInd Bank Ltd.
Headquartered in Pune, the IndusInd Bank is a commercial banking company that offers commercial, transactional and electronic banking products and services. It has a YTB performance of 29.18.
