Indian bank shares slide as Nifty Bank drops 1% after quarterly results
Axis Bank shares fell 5% while HDFC Bank and ICICI Bank also declined. Investors are weighing mixed earnings from the largest private lenders in India.
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what happened
Most private banks in India traded lower on Monday morning, pushing the Nifty Bank index down 1%. Axis Bank shares fell 5%, HDFC Bank lost more than 2% and ICICI Bank slipped about 1%. Kotak Mahindra Bank and YES Bank dropped by up to 1%. The pressure is linked to second-quarter earnings released by major lenders.
HDFC Bank's standalone net profit rose nearly 5% year on year to Rs 19,509.96 crore. ICICI Bank posted 20.1% growth, Axis Bank 37.6% and YES Bank 65%. According to the report, published by Moody's, the results were mixed against market expectations.
Analysts cited in the report, including Ajit Mishra of Religare Broking, noted that crude oil remains near $106-107 per barrel, adding to caution. Pankaj Pandey of ICICI Securities said public sector banks are faring better, helped by a correction in global bond yields.
why it matters
The Nifty Bank index is sensitive to broader Indian market sentiment and to foreign investor flows, which have been net sellers in the cash market. Elevated oil prices add uncertainty for India, a large oil importer, and can weigh on the banking sector. State-owned banks have benefited from lower bond yields, which helped offset weakness among private lenders. Investors are watching profit trends and net interest margins, which showed mixed movements in the reported quarter.
market impact
Indian banks: mixed earnings and foreign outflows weigh on the Nifty Bank index
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sources
- Why are banking stocks falling? Nifty Bank down 1%; Axis, HDFC Bank shares crash up to 5% - What should investors do? — Moody's, 19 October 2026 at 08:48 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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