India’s Bank Gauge Hits Record High on Low Tariff Exposure

A gauge of Indian lenders’ shares rose to a record, as investors remain bullish on the sector due to its relative insulation to the tariff-related turmoil.

The NSE Nifty Bank Index advanced as much as 1.9% on Monday, pushing the measure past the previous record set in September. The gauge has gained more than 7% since April 2, when US reciprocal tariffs were announced, outperforming the benchmark NSE Nifty 50 Index’s more than 3% climb.

Read more: India Is First Major Market to Erase Losses From April 2 Tariffs

Banks in India are seen to be relatively shielded ...