ICICI Bank gained 6.63 percent, while HDFC Bank surged by 5.31 percent, Axis Bank by 4.87 percent and SBI by 3.88 percent on the BSE. ICICI Bank was the top gainer on the Sensex.
Among others, Kotak Mahindra Bank shot up by 4.75 percent, IndusInd Bank by 4.61 percent, PNB by 4.94 percent and Bank of Baroda by 2.62 percent.
Led by the gains in these stocks, the BSE bankex jumped 5.34 percent to close 15,721.36, becoming the top gainer among 13 sectoral indices. It scaled all-time high of 15,801.26 points in the day-trade.
"We believe market will continue to have Modi wave. Friday's rally was led by financial. Bankex moving up by closer to 5 percent, mainly led by renewed buying in private sector banks," said Rahul Shah, Vice President - Equity Advisory Group, Motilal Oswal Securities.
Another analyst, Jayant Manglik, President-retail distribution, Religare Securities said, "The sentiments were buoyant since the beginning on the back of continuous inflow of foreign fund and expectation of stable government after this general election."
In the broader market, the BSE benchmark index Sensex ended at 22,994.23, up 650.19 points or 2.91 percent. The index crossed record 23,000 level for the first time in intra-day.


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