Shares of State Bank of India, the country’s largest lender, surged to record highs on Monday following a strong quarterly earnings performance that lifted investor confidence across broader markets.

Bank of America on Wednesday reported fourth-quarter earnings that exceeded analysts’ expectations, driven by gains in net interest income and equities trading.

The Nifty PSU Bank index climbed more than 2% on Monday, driven by a sharp 3–5% rally in Bank of Baroda and Canara Bank shares following their strong Q2 FY26 earnings and supportive policy news.

Global markets recovered some losses on Wednesday, supported by dovish remarks from Federal Reserve Chair Jerome Powell and positive earnings reports from U.S. banks.