Indian shares opened higher on Monday after private lender ICICI Bank beat second-quarter profit forecasts on healthy credit demand.

NSE Nifty 50 rose 0.33% to 24,263.3 points as of 09:28 IST, while BSE Sensex rose 0.41% to 79,770.2 points.

ICICI Bank, the third top-heavy stock in the Nifty 50, gained 2.5%, with banks and financials gaining around 1%.

Better asset quality and the highest current account savings account growth among peers were encouraging signs from the private lender’s results, according to three analysts.

10 of the 13 major sectors recorded gains. Larger, more domestically focused small and midsize companies rose about 0.4% each

Among individual stocks, non-bank lender Shriram Finance rose 5% after reporting a rise in profit and improvement in asset quality in the September quarter.

Bandhan Bank gained 8%. Not only did the lender’s profits beat forecasts, but the quality of microfinance loans also improved, confirming that the bank could outperform its peers this cycle, Jefferies said in a note.

Property developer DLF rose 4.1% after making higher profits in the second quarter on sales of homes launched in previous quarters.

State-owned Coal India fell 2% after reporting a drop in net profit in the September quarter.