Benchmark indices are trading on a robust note with Sensex surging 903.76 points or 2.79% at 33327.86, and the Nifty jumped 256.95 points or 2.68% at 9837.25. Traders and investor are optimistic tracking the announcement of more lockdown relaxations with Asian markets also trading in the green. Among the sectors, Bank Nifty jumped over 4 percent led by Axis Bank, ICICI Bank, IDFC First Bank, Kotak Mahindra Bank Punjab National Bank and RBL Bank which gaine dover 4 percent each followed by State Bank of India, HDFC Bank and Bank of Baroda. Manali Bhatia, Senior Research Analyst at Rudra Shares and Stock Brokers has a buy recommendation on State Bank of India with target of Rs 185 per share. The stock is an expected bounce-back candidate from the highly oversold zone. Being available at a strong long term support zone, pullback buying is expected in the counter in the coming days. Bullish divergence on the weekly chart is providing an early indication that short-covering rally can be expected in coming days, she said. Nifty Financial Services was up over 3 percent led by the Bajaj twins - Bajaj Finance and Bajaj Finserv both up over 6 percent followed by Cholamandalam Investment, Indiabulls Housing Finance, M&M Financial Services, PFC and REC among others. The top positive contributors included HDFC Bank, HDFC, ICICI Bank, Bajaj Finance and Kotak Mahindra Bank while IDFC First Bank, State Bank of India and Punjab National Bank are the most active stocks on NSE in terms of volumes. Share price of IDBI Bank hit upper circuit of 20 percent after the bank posted a profit of Rs 135 crore for the March quarter on account of recoveries from bad loans. The lender reported a profit after 13 straight quarters of net losses. Total income rose to Rs 6,925 crore as against Rs 6,616 in the fourth quarter of 2018-19, the bank said in a regulatory filing. However, Umesh Mehta, Head of Research, Samco Securities in an interview to moneycontrol said that banks are expected to face a tough time given the lockdown and the extension in the moratorium. Their balance sheets will also be crippled which will eventually reflect on the stock price. Hence, it would be safer for investors to avoid banking stocks for the moment at least until the pain has been completely discounted in their books, he added. Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions..reckoner_bx{ function loginSignupPost(id_form){ var user_id = getCookie("nnmc"); if(user_id!= "" && user_id != null) { var package_duration = $.trim($("#mc_pro_37").attr("package_duration")); $("#mc_pro_37").attr("action","https://payments.moneycontrol.com/payment.php"); $("#mc_pro_37").submit(); } else { $("#ifval").val("490px"); $("#myframe").attr("src","https://accounts.moneycontrol.com/mclogin/?d=2"); $("#LoginModal").modal(); } }