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

Nifty Bank index gained nearly 1% (about 400 points) to 58,376, snapping a two-session losing streak as most banking stocks rose on Q1 FY27 business updates. HDFC Bank led gains at nearly 3% after reporting 15.4% YoY rise in gross advances to Rs 30.61 lakh crore and 14.7% YoY growth in deposits to Rs 31.71 lakh crore, while Kotak Mahindra Bank fell 4% on weaker-than-expected deposit growth of just 0.1% QoQ to Rs 5.73 lakh crore. AU Small Finance Bank, IndusInd Bank, ICICI Bank, Axis Bank, Federal Bank, SBI and Yes Bank also advanced up to 2%, whereas PSU peers Canara Bank, Union Bank, PNB and Bank of Baroda traded marginally lower.