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Private bank shares gained for second consecutive trading sessions.
At 14:25 IST, the S&P BSE Sensex advanced 841.34 points or 1.15% to 74,088.75. The Nifty 50 index rose 233.95 points or 1.03% to 22,934.20.
In the broader market, the Nifty MidCap 150 Index rose 0.51% and the BSE 250 SmallCap Index added 0.54%.
The market breadth was strong. On the NSE, 2,152 shares rose and 1,355 shares fell. A total of 111 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 4.69% to 15.48.
Buzzing Index:
The Nifty Private Bank Index advanced 1.05% to 27,003.50. The index rose 1.41% the two consecutive trading sessions.
Bandhan Bank (up 3.73%), Kotak Mahindra Bank (up 3.51%), IndusInd Bank (up 1.34%), Federal Bank (up 0.65%) and ICICI Bank (up 0.3%) jumped.
Numbers to Track:
The yield on India's 10-year benchmark federal paper declined 0.12% to 7.420 compared with previous session close of 7.440.
In the foreign exchange market, the rupee edge lower against the dollar. The partially convertible rupee was hovering at 95.3325 compared with its close of 95.2800 during the previous trading session.
MCX Gold futures for the 4 December 2026 settlement fell 0.32% to Rs 1,43,252.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 102.25.
The United States 10-year bond yield fell 1.21% to 4.992.
In the commodities market, Brent crude for the December 2026 settlement declined 81 cents or 0.70% to $114.51 a barrel.
Total income increased 17.88% year-on-year and 7.44% quarter-on-quarter to Rs 19,141.29 crore. Net interest income (NII) increased 16% year-on-year and 7% quarter-on-quarter to Rs 8,459 crore. Net interest margin (NIM), however, moderated to 4.31% from 4.54% a year ago and 4.53% in the previous quarter. The bank attributed the moderation largely to the mobilisation of foreign currency non-resident bank (FCNR(B)) deposits during the quarter.
Fees and services income rose 21% year-on-year and 17% sequentially to Rs 2,926 crore. Operating profit increased 21% year-on-year and 4% quarter-on-quarter to Rs 6,382 crore. Operating expenses rose 14% year-on-year to Rs 5,271 crore, while the cost-to-assets ratio improved to 2.40% from 2.67% a year ago.
Profit before tax increased 29.11% year-on-year and 2.11% sequentially to Rs 5,578.64 crore.
Provisions declined 15% year-on-year to Rs 803 crore but increased from Rs 668 crore in Q1 FY27. Annualised credit cost stood at 0.35%, compared with 0.79% in the year-ago quarter and 0.46% in the previous quarter.
Net advances grew 25% year-on-year to Rs 5,77,295 crore as of 30 September 2026. Excluding loans against FCNR(B) deposits and the loan portfolio acquired from Kotak Mahindra Investments, advances increased 19%. Customer assets rose 23% year-on-year to Rs 6,26,801 crore.
Period-end deposits increased 23% year-on-year to Rs 6,51,491 crore. Excluding FCNR(B) deposits, deposit growth stood at 13%. The bank's current account and savings account (CASA) ratio declined to 38.2% from 42.3% a year earlier, reflecting the increase in the term deposit base following FCNR(B) inflows. Excluding these deposits, the CASA ratio stood at 41.8%.
Asset quality improved, with gross non-performing assets (GNPA) declining 6.15% year-on-year to Rs 6,080.97 crore from Rs 6,479.58 crore. The gross NPA ratio fell to 1.04% from 1.39% a year earlier and 1.18% in the previous quarter. Net non-performing assets (NNPA) declined 8.32% year-on-year to Rs 1,366.94 crore, while the net NPA ratio eased to 0.24% from 0.32% a year earlier and 0.27% in Q1 FY27.
The bank reported an annualised return on assets of 1.92% and return on equity of 11.65% for Q2 FY27. Its capital adequacy ratio stood at 21.9%, while the common equity tier-1 ratio was 21.4%. The bank had 5.1 crore customers as of 30 September 2026.
As on 30 September 2026, Kotak Mahindra Bank had a national footprint of 2,327 branches and 2,673 ATMs (incl. cash recyclers), and branches in GIFT City and DIFC (Dubai).
Metal, pharma and oil & gas shares advanced while media and consumer durables shares declined.
As per provisional closing data, the S&P BSE Sensex advanced 482.92 points or 0.66% to 73,606.75. The Nifty 50 index rose 153.20 points or 0.68% to 22,753.20. In the past four consecutive trading sessions, the Sensex and Nifty declined 3.49% and 2.36%, respectively.
The broader market outperformed the frontline indices. The Nifty MidCap 150 Index rose 1.07% and the Nifty SmallCap 250 Index jumped 1.13%.
The market breadth was positive. On the NSE, 2,063 shares rose and 1,525 shares fell. A total of 93 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 1.73% to 17.15.
Brent crude eased to around $115.17 a barrel on Monday after approaching a six-month high last week. Prices retreated amid hopes of diplomatic efforts involving Qatar, Iran and the United States to ease regional tensions. However, continued attacks in the region kept supply risks elevated.
Initial Public Offer (IPO) :
EAAA India Alternatives received bids for 5,46,858 shares as against 52,99,684 shares on offer, according to stock exchange data at 15:30 IST on 26 October 2026. The issue was subscribed 0.10 times.
The issue opened for bidding on 26 October 2026 and will close on 28 October 2026. The price band of the IPO is fixed between Rs 1,585 and 1,665 per share. An investor can bid for a minimum of 9 equity shares and multiples thereof.
Buzzing index:
The Nifty Metal index advanced 2.21% to 11,731.55. The index declined 5.40% in the past four trading sessions.
JSW Steel (up 4.85%), Steel Authority of India (up 3.44%), National Aluminium Company (up 2.97%), Hindalco Industries (up 2.17%), Hindustan Copper (up 1.97%), Jindal Steel (up 1.88%), Vedanta Aluminium Metal (up 1.74%), APL Apollo Tubes (up 1.48%), Adani Enterprises (up 1.25%) and Tata Steel (up 0.79%) surged.
Stocks in Spotlight:
Kotak Mahindra Bank rose 2.38% after the private sector lender reported a 29% year-on-year increase in standalone net profit to Rs 4,212 crore in Q2 FY27. Net profit grew 2% sequentially from Rs 4,123 crore in Q1 FY27. Net interest income (NII) increased 16% year-on-year and 7% quarter-on-quarter to Rs 8,459 crore. Net interest margin (NIM), however, moderated to 4.31% from 4.54% a year ago and 4.53% in the previous quarter. The bank attributed the moderation largely to the mobilisation of foreign currency non-resident bank (FCNR(B)) deposits during the quarter.
Infosys jumped 1.06%. The company lowered its constant currency (CC) revenue growth guidance for FY27 to 1%-2%. The IT major reported a 0.7% rise in consolidated net profit to Rs 7,823 crore in Q2 FY27 compared with Rs 7,249 crore in Q1 FY27. Revenue from operations increased 2.14% QoQ to Rs 40,719 crore in Q2 FY27.
On a year-on-year (YoY) basis, the IT major's consolidated net profit rose 6.23%, while revenue from operations climbed 10.69% in Q2 FY27.
Tata Chemicals jumped 3.43% on Monday after the company disclosed a court order concerning a dispute over the operations of its Kenyan subsidiary, Tata Chemicals Magadi Limited (TCML).
Global Markets:
Dow futures rose 266 points, signalling a higher opening for US stocks.
European shares advanced on Monday despite geopolitical tensions in the Middle East.
In the UK, retail sales volumes fell 0.4% in September, exceeding expectations for a 0.1% decline. Warmer weather weighed on online clothing sales, while supermarket volumes also fell. Retail sales volumes rose 0.7% over the three months to September, and fuel sales volumes increased 2.2% in September.
UK consumer confidence recorded its sharpest monthly decline since April 2020, raising concerns about household spending ahead of the government's upcoming budget. The GfK Consumer Confidence Index fell 11 points to -24 in October from -13 in September.
Most Asian equity indices ended lower as investors assessed elevated oil prices, geopolitical risks and a busy week of central bank decisions and corporate earnings.
The cautious mood followed a lower close on Wall Street on Friday, 23 October, as rising energy costs and concerns over artificial intelligence investment weighed on sentiment. Investors are also preparing for quarterly results from major US technology companies, including Alphabet, Microsoft and Amazon, which could provide fresh insights into AI-related spending and returns.
The Dow Jones Industrial Average fell 652.82 points, or 1.23%, to 52,215.16 on Friday. The S&P 500 declined 39.75 points, or 0.52%, to 7,623.68, while the Nasdaq Composite shed 53.52 points, or 0.21%, to 25,955.34.
Telecommunications stocks came under pressure after reports that SpaceX was exploring plans to launch a fourth US wireless carrier. AT&T and T-Mobile fell nearly 8% each amid concerns over increased competition. Energy stocks gained as Middle East tensions pushed oil prices higher.
Among individual stocks, Schlumberger gained about 7% following its quarterly results. American Express fell around 3.7% despite reporting higher quarterly profits and raising its full-year earnings forecast. The company also announced plans to cut 5% of its workforce, while revenue missed market expectations.
On the economic front, the University of Michigan's final consumer sentiment index for October came in at 48.0, compared with 48.1 in September. The reading exceeded market expectations, but sentiment remained near historically low levels. One-year inflation expectations rose to 4.7% from 4.6%, while five-year expectations increased to 3.5% from 3.4%. Persistent inflation concerns could complicate the Federal Reserve's policy outlook.
Kotak Mahindra Bank Ltd fell for a fifth straight session today. The stock is quoting at Rs 430.55, down 1.48% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 1.24% on the day, quoting at 22406.15. The Sensex is at 72534.84, down 0.98%.Kotak Mahindra Bank Ltd has gained around 6.31% in last one month.Meanwhile, Nifty Bank index of which Kotak Mahindra Bank Ltd is a constituent, has eased around 2.61% in last one month and is currently quoting at 54925.7, down 1.7% on the day. The volume in the stock stood at 103.32 lakh shares today, compared to the daily average of 266.7 lakh shares in last one month.
The benchmark October futures contract for the stock is quoting at Rs 430.05, down 1.64% on the day. Kotak Mahindra Bank Ltd tumbled 1.57% in last one year as compared to a 13.14% slide in NIFTY and a 6.43% fall in the Nifty Bank index.
The PE of the stock is 29.31 based on TTM earnings ending June 26.
Shares of Bandhan Bank, Ambuja Cements and SAIL are barred from F&O trading on 6 October 2026.
Stocks to Watch:
Axis Bank: The private sector lender reported a 20.7% year-on-year (YoY) increase in total deposits to Rs 14,52,100 crore as of 30 September 2026. Gross advances rose 22.7% YoY to Rs 13,84,600 crore.
Kotak Mahindra Bank: The bank’s total deposits increased 23.2% YoY to Rs 6,51,491 crore as of 30 September 2026, compared with Rs 5,28,776 crore a year earlier. Net advances grew 24.7% YoY to Rs 5,77,094 crore.
Trent: The Tata Group’s retail company reported a 23% YoY increase in standalone revenue from operations to Rs 5,788 crore in the second quarter of FY27. Revenue from operations for the first half of FY27 rose 21% YoY to Rs 11,454 crore.
Godrej Consumer Products: The fast-moving consumer goods (FMCG) company expects to deliver another quarter of strong performance at the consolidated level in Q2 FY27, with high-teens revenue growth, high-single-digit underlying volume growth and double-digit growth in earnings before interest, taxes, depreciation and amortisation (EBITDA). The company expects to sustain growth despite uneven monsoon conditions associated with an intensifying El Niño and inflationary pressures across several commodity-linked inputs.
Juniper Hotels: The hospitality company has entered into a binding memorandum of understanding (MoU) with Imagicaaworld Entertainment for the acquisition of the operating Novotel Imagicaa hotel in Khopoli, Maharashtra, for a total consideration of Rs 248 crore.
IDFC First Bank: The bank reported a 17% YoY increase in total deposits to Rs 3,23,697 crore as of 30 September 2026, while loans and advances rose 20.4% YoY to Rs 3,13,864 crore. During the quarter, the bank mobilised Rs 34,390 crore of FCNR(B) deposits, equivalent to approximately $3.6 billion as stated in the company update.
IndusInd Bank: Total deposits rose 10.1% YoY to Rs 4,29,038 crore as of 30 September 2026, compared with Rs 3,89,600 crore a year earlier. Net advances increased 11.1% YoY to Rs 3,62,393 crore.
The bank's net advances at the end of September 2026 stood at Rs 5,77,094 crore, registering a 24.7% year-on-year (YoY) and 12.7% quarter-on-quarter (QoQ) growth. Average net advances increased 22.1% YoY and 10.5% QoQ to Rs 5,46,963 crore.
The bank's current account and savings account (CASA) deposits stood at Rs 2,49,105 crore at the end of September, up 11.3% YoY and 7.8% QoQ. Average CASA deposits rose 14.2% YoY and 4.4% QoQ to Rs 2,26,469 crore.
The September-end deposit balance includes FCNR(B) deposits aggregating to $5.78 billion, equivalent to around Rs 55,344 crore, mobilised under the Reserve Bank of India's swap facility for FCNR(B) deposits. The bank's international branches had advances of around $1.68 billion, or Rs 16,110 crore, against these FCNR(B) deposits.
Recently, the reserve bank of India (RBI) approved the appointment of Anup Kumar Saha as the new managing director (MD) & CEO of the bank, for a period of three years, with effect from January 1, 2027.
He is currently the bank’s whole-time director (executive director). He joined Kotak Mahindra Bank in January 2026 and has been overseeing the retail banking, data analytics and marketing functions since March 2026.
Kotak Mahindra Bank is the flagship company of the Kotak Group and has diversified operations covering commercial vehicle financing, consumer loans, corporate finance, and asset reconstruction. Through its subsidiaries, the bank is engaged in investment banking, equity broking, securities-based lending, and car finance.
The bank reported a 25.63% YoY rise in standalone net profit to Rs 4,122.96 crore in Q1FY27, compared with Rs 3,279.50 crore in Q1FY26. Total income increased 5.31% YoY to Rs 17,815.69 crore during the quarter.
Auto shares declined after advancing in the past trading session.
At 10:25 IST, the barometer index, the S&P BSE Sensex declined 92.44 points or 0.13% to 72,387.85. The Nifty 50 index fell 65.80 points or 0.29% to 22,554.70.
In the broader market, the BSE 150 MidCap Index shed 0.25% and the BSE 250 SmallCap Index dropped 0.37%.
The market breadth was weak. On the BSE, 1,455 shares rose and 2,309 shares fell. A total of 252 shares were unchanged.
The Indian stock market will remain closed on Friday, 2 October 2026, on account of Mahatma Gandhi Jayanti.
Economy:
The government has reduced the windfall gains tax on exports of diesel and aviation turbine fuel (ATF) for the fortnight beginning 1 October 2026, while keeping the levy on petrol exports unchanged. The special additional excise duty (SAED), along with road and infrastructure cess, on diesel exports has been cut to Rs 16 per litre from Rs 20 per litre, while the levy on ATF exports has been reduced to Rs 10.5 per litre from Rs 15 per litre. The duty on petrol exports remains unchanged at Rs 0.5 per litre. The Finance Ministry said there is no change in the existing duty rates on petrol and diesel cleared for domestic consumption.
New Listing:
Shares of Moneyview were currently trading at Rs 60.28 at 10:15 IST on the BSE, representing a premium of 77.29% as compared with the issue price of Rs 34.
The stock debuted at Rs 55.61 on the BSE, a premium of 63.56% over its issue price.
So far, the stock has hit a high of Rs 62 and a low of Rs 55.18. On the BSE, over 4.11 crore shares of the company were traded in the counter so far.
Shares of A-One Steels were currently trading at Rs 433 at 10:19 IST on the BSE, representing a premium of 5.22% as compared with the issue price of Rs 405. .
The stock debuted at Rs 462 on the BSE, a premium of 14.07% over its issue price.
So far, the stock has hit a high of Rs 469.45 and a low of Rs 425.50. On the BSE, over 9.71 lakh shares of the company were traded in the counter so far.
The Nifty Auto index declined 2.24% to 25,703.70. The index rose 0.46% in the past trading session.
Bajaj Auto (down 6.84%), Eicher Motors (down 2.24%), Bharat Forge (down 2.14%), Ashok Leyland (down 2.04%), TVS Motor Company (down 1.92%), Sona BLW Precision Forgings (down 1.89%), Mahindra & Mahindra (down 1.8%), Hero MotoCorp (down 1.69%), Maruti Suzuki India (down 1.58%) and Uno Minda (down 1.51%) declined.
Kotak Mahindra Bank jumped 2.62% after the reserve bank of India (RBI) approved the appointment of Anup Kumar Saha as the new Managing Director & CEO of the Bank, for a period of three years, with effect from January 1, 2027.