D-Street Buzz: Bank Nifty spikes 4%, hits fresh record high; HDFC Bank, SBI, Axis Bank jump 4-6% each HDFC Bank jumped over 5 percent followed by State Bank of India, Axis Bank, RBL Bank and Federal Bank which added 4 percent each. Indian stock market continues its bull run after investors gave a thumbs up to Budget 2021. Bank Nifty jumped 4 percent after surging over 8 percent on Budget day. The index hit new record high of 34,652.50 at 09:42 hours. The rally comes after the Finance Minister announced setting up of an Asset Reconstruction Company. She further introduced a plan to recapitalise public sector banks. The government has also announced the intention to privatise two state-run lenders.