Sensex, Nifty trade with major losses; private bank shares decline
The Nifty traded below the 24,250 mark. Private Bank shares declined after advancing for previous trading session.
At 10:30 ST, the barometer index, the S&P BSE Sensex, tanked 468.58 points or 0.60% to 77,682.87. The Nifty 50 index fell 110.60 points or 0.45% to 24,223.70.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.40% and the BSE 250 SmallCap Index added 0.37%.
The market breadth was positive. On the BSE, 1,977 shares rose and 1,617 shares fell. A total of 247 shares were unchanged.
In the commodities market, Brent crude for September 2026 settlement advanced $2.22 or 2.52% to $90.32 a barrel.
Parliament Monsoon Session 2026 begins today:
The Monsoon Session of Parliament will commence today and continue till 13 August 2026. The 25-day session will comprise 19 sittings, during which the government is expected to take up key legislative business and other parliamentary proceedings.
Economy:
India?s forex reserves jumped $964 million to $675.157 billion in the week ended July 10, the Reserve Bank said.
Foreign currency assets, a major component of the reserves, increased by $930 million to $546.508 billion, the central bank?s data showed.
The value of gold reserves increased by $24 million to $105.223 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by $3 million at $18.626 billion, the apex bank said.
India?s reserve position with the IMF also increased by $7 million to $4.793 billion at the end of the reporting week, according to the RBI?s data.
Buzzing Index:
The Nifty Private Bank index fell 2.37% to 27,834. The index added 2.12% in the previous trading session.
Axis Bank (down 4.89%), HDFC Bank (down 4.51%), Kotak Mahindra Bank (down 2.92%), Yes Bank (down 2.41%) and RBL Bank (down 1.06%), Federal Bank (down 0.67%), Bandhan Bank (down 0.49%), IndusInd Bank (down 0.24%), IDFC First Bank (down 0.12%) fell.
Stocks in Spotlight:
ICICI Bank rose 0.67%. The bank?s standalone net profit rose 15.95% to Rs 14,804.50 crore in Q1 FY27 as against Rs 12,768.21 crore posted in Q1 FY26. Total income increased 5.43% year on year (YoY) to Rs 54,246.84 crore in Q1 FY27.
Kotak Mahindra Bank fell 3%. 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.
Axis Bank fell 4.78%. The bank?s standalone net profit jumped 22.52% to Rs 7,113.92 crore in Q1 FY27, compared with Rs 5,806.14 crore in Q1 FY26. Total income increased 6.26% year on year (YoY) to Rs 40,721.05 crore in Q1 FY27.
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