What next for Bank Nifty after hitting fresh all-time high today? Credit growth may fall, deposits to improve

Bank Nifty hit a new all-time high of 44,486.35 on Tuesday – just a whisker above yesterday’s high – as market sentiment improved and analysts turned bullish on bank stocks. Bank Nifty has jumped 3.1% year to date, outperforming the Nifty 50, which has gained 2.7% YTD. The recent surge suggests that the ongoing global banking crisis has no significant impact on the Indian banking system and the balance sheets are much more resilient than they were historically in terms of capital buffer, credit...