India's stock market opened higher today, driven by gains in private banks after Axis Bank Ltd. reported its quarterly results on Wednesday.
At 10:03 am, the 30-share S&P BSE Sensex rose 0.52% to 83,031.83 points even as the wider NSE Nifty 50 was trading 0.47% higher at 25,442.75 points. Fifteen of the 16 major sector logged gains at open. The small-caps and mid-caps gained 0.6% and 0.2%, respectively.
Private banks climbed 1%, led by a 3% jump in Axis Bank's share price. The two highest weighted stocks—HDFC Bank Ltd. and ICICI Bank Ltd.—advanced 0.6% each, while third heaviest stock Reliance Industries Ltd. added 0.5%.
Axis Bank Results
Axis Bank reported a bigger-than-expected drop in second-quarter profit on Wednesday, as higher provisions for bad loans weighed on earnings.
Standalone net profit of India's fourth-largest private lender by market cap fell 26.4% year-on-year to ₹5,090 crore for the three months ended September 2025, according to an exchange filing. That, even as net interest income, or revenue, rose 2% year-on-year to ₹13,744 crore.
Axis Bank Q2 Results: Key Highlights (YoY)
- Revenue (NII) up 2% at ₹13,744 crore
- Net profit down 26.4% at ₹5,090 crore
- Gross NPAs at 1.46% versus 1.57% (QoQ)
- Net NPAs at 0.44% versus 0.45% (QoQ)
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