India's credit card market continued to expand in May with spending crossing ₹2 lakh crore and nearly 10 lakh new cards added, but leadership varied across key metrics. While HDFC Bank remained the largest issuer by cards in force, SBI Cards strengthened its position in spending, even as mid-sized lenders gained ground in new card issuances.
With the BFSI sector witnessing renewed momentum, market experts remain bullish across private banks, public sector banks, and leading NBFCs. Rather than favoring a single segment, the strategy is to maintain diversified exposure across the financial space. Among NBFCs, Bajaj Finance and Shriram Finance stand out as preferred picks. In the PSU banking space, State Bank of India and Bank of Baroda remain top recommendations, while ICICI Bank and Federal Bank are the preferred private sector bets. Analysts believe these stocks are well-positioned to benefit from the next wave of buying in financials.
Indian markets extended their winning streak for a fourth consecutive session as the Nifty closed near 24,086, gaining almost 100 points, while Bank Nifty surged sharply. Strength in the rupee and a decline in crude oil prices boosted investor sentiment. PSU banks led the rally, with IDBI Bank soaring 17%, while UCO Bank, Punjab National Bank, and other public-sector lenders posted strong gains. Stocks such as CarTrade, Schneider Electric Infrastructure, Trent, Bharat Dynamics, HAL, and Cochin Shipyard also advanced. Several counters, including Data Patterns, Federal Bank, and Netweb Technologies, hit fresh record highs during the session.
An analyst from Master Capital Services said that Federal Bank has moved into uncharted territory after breaching its previous all time high, indicating continued bullish strength.
Mahender Makhijani, 44, a lawful permanent resident from India residing in Corona del Mar, was arrested on a federal criminal complaint
The valuation premium of mid-private banks versus larger private banks has risen sharply and Elara said it would rather be selective in its approach. Within PSU banks, it prefers State Bank of India and Bank of Baroda.
Master Capital Services has shared eight F&O trading ideas with investors, which includes four long and four short trading views with entry levels, targets, stop loss and margins needed.
Chennai Petroleum, Axis Securities said, has given a a decisive breakout above the three-year “multiple resistance” zone of Rs 1,130-1,110 levels, backed by a strong bullish candle, signalling a sustained uptrend.
Master Capital Services said that Federal Bank continues to remain one of the strongest stocks within the power space, supported by a steady uptrend and strong relative strength.
An analyst from Master Capital Services said that Federal Bank has confirmed a breakout above the psychological mark, and signalling a continuation of the primary uptrend.
From the banking space, the market expert liked Federal Bank Ltd. "The stock can be added at current levels for expected targets of Rs 300-302 with a stop loss of Rs 286," he said.




