HDFC Bank, Axis Bank, ICICI, Kotak shares rise up to 3% ahead of Q1 earnings; Nifty Bank gains 500 pts. What to expect?

Shares of major private banks including HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank rose up to 3% ahead of Q1 FY27 results scheduled for Saturday, July 18, pushing Nifty Bank over 500 points higher to 58,095. Nomura expects banks to report modest core-PPOP growth with soft NII growth and muted PAT growth, while flagging possible NIM contraction as the key risk. Brokerages Kotak Institutional Equities and Nomura prefer frontline private banks, naming ICICI Bank, HDFC Bank, and Kotak Mahindra Bank as top picks.