New Delhi, July 16 -- India's midcap private-sector banks clocked double-digit gains in the June quarter. All seven private-sector banks in the top 20 with market capitalisations below Rs 1 trillion posted double-digit gains in the three months ended June 30, as per S&P Global Market Intelligence data report.

The midcap lenders emerged as the biggest gainers in a broader stock market rally that followed a temporary ceasefire between Iran and the US.

As per the report, "Yes Bank Ltd.'s market cap rose about 40% quarter over quarter, while IDBI Bank Ltd. gained 35.8%."

This marked a recovery for IDBI Bank Ltd., which bounced back from a 40 per cent decline in the previous three months after the government halted its divestment process. ...