Nifty Bank rises 400 points as HDFC Bank, IndusInd, other stocks jump up to 3% after Q1 updates

Published 6 July 2026 · finance

The Nifty Bank index rose more than 400 points on Monday as sharp gains in heavyweights HDFC Bank, IndusInd Bank and ICICI Bank outweighed a

The Nifty Bank index rose more than 400 points on Monday as sharp gains in heavyweights HDFC Bank, IndusInd Bank and ICICI Bank outweighed a nearly 4% crash in Kotak Mahindra Bank shares after Q1 business updates.The Nifty Bank index rose to 58,376, gaining nearly 1%. The index snapped a two-session losing streak today.HDFC Bank Q1 business updateHDFC Bank shares were the top gainers on the index, jumping nearly 3% after India's largest private lender reported gross advances at Rs 30.61 lakh crore at the end of the April-June quarter of FY27, marking a 15.4% year-on-year (YoY) rise from Rs 26.53 lakh crore reported in the corresponding quarter of the previous financial year. Its period end deposits meanwhile rose 14.7% YoY to Rs 31.71 lakh crore at the end of the first quarter of FY27, as against Rs 27.64 lakh crore reported at the end of the corresponding quarter of FY26.JM Financial noted that HDFC Bank reported healthy deposit mobilisation. “HDFC Bank reported robust loan growth, marginally ahead of estimates, while deposit growth was in line. Consequently, the CD ratio inched up to 95.8% (vs. 94.6% in Q4 FY26). We expect margins to contract slightly this quarter and, in our recent preview note, estimated a 2bp QoQ margin contraction,” said Motilal Oswal in its note.Also read: HDFC Bank Q1 business update | Gross advances rise 15% to Rs 30.61 lakh croreAU Small Finance Bank and IndusInd Bank shares gained nearly 2% each.

AU Small Finance Bank’s gross loan portfolio rose around 23% YoY to Rs 1.44 lakh crore, while total deposits gained nearly 24% to Rs 1.58 lakh crore. IndusInd Bank’s net advances however declined over 2% YoY to Rs 3.26 lakh crore, but deposits rose 4.5% YoY to Rs 4.15 lakh crore.ICICI Bank, Axis Bank, Federal Bank, State Bank of India and Yes Bank shares gained up to 1%, as seen at 11 am.Also read: Yes Bank shares gain after Q1 advances rise 18% to Rs 2.85 lakh crore, deposits up 14%Kotak Mahindra Bank Q1 business updateBucking the trend, Kotak Mahindra Bank shares crashed 4%, significantly weighing on the Nifty Bank index. This came after the private lender announced that its net advances for the quarter which ended on June 30, 2026, rose more than 15% year-on-year (YoY) to Rs 5.12 lakh crore, from Rs 4.45 lakh crore reported in the same period last year. Deposits meanwhile grew nearly 12% YoY to Rs 5.73 lakh crore during Q1 FY27, from Rs 5.13 lakh crore in Q1 FY26. Sequentially however, the growth in deposits was marginal at 0.1% QoQ from Rs 5.72 lakh crore in Q4 FY26.Motilal Oswal noted that Kotak Mahindra Bank’s Q1 loan growth remained largely in line with its estimate.