Citibank N.A. India’s strategic exit from consumer banking is delivering results, with its institutional asset book crossing ₹1 lakh crore. The bank has nearly doubled the book since selling its retail business to Axis Bank in 2023, redeploying capital towards corporate and institutional banking.
For HDFC Bank, Bernstein suggested a target of Rs 1,150, which at Friday's intraday price of Rs 730.75 implied 57 per cent upside potential. It gave a target of Rs 1,800 for ICICI Bank.
Among the top Sensex gainers were HDFC Bank Ltd, ICICI Bank Ltd, Bharti Airtel Ltd, Reliance Industries Ltd (RIL), Eternal Ltd, Axis Bank Ltd, Larsen & Toubro Ltd (L&T), Kotak Mahindra Bank Ltd, Infosys Ltd, Bajaj Finance Ltd and ITC Ltd.
Sensex gained 554 pts to 78,77,463 and Nifty rose 128 pts to 24,210. Market cap of BSE listed firms stood at Rs 488.70 lakh crore.
Sharad Awasthi, Head of Research, Private Client Group at SMIFS Securities says that valuation comfort and improving execution visibility are creating fresh opportunities even in a range-bound market.
Antque said clear beneficiaries of softer market rates due to FCNR(B) deposits are banks with weaker liability franchises such as IndusInd, KVB, CUBK and IDFC First, as well as deposit-constrained banks such as HDFC Bank and Axis.
Stocks such as Asian Paints, Infosys, HCL Technologies, Bharti Airtel, TCS, HUL and IndiGo led the losers on Sensex, falling up to 2.40%.
Axis Bank will revise several credit card terms from August 28, 2026, including a higher Dynamic Currency Conversion (DCC) markup and changes to late-payment fees. The bank will also change reward eligibility for gift-card purchases and clarify how partial credit-card payments will be adjusted.
JM Financial said the trend component is positive with the stock's trailing 30-day downward price move of 7.23 per cent in the wake of profit booking following Q1FY27 results.
Sensex fell 284 pts to 77,724 and Nifty slipped 62 pts to 24,301. Market cap of BSE-listed firms stood at Rs 491.42 lakh crore.
Banking stocks have remained under pressure, but improving margins and a gradual shift towards retail lending could support recovery. Sunny Agarwal, SBI Securities, expects ICICI Bank to maintain its leadership, while Axis Bank could outperform among large Tier-I banks. HDFC Bank offers attractive valuations, although recovery may take the next two to three quarters. Among mid-sized banks, Karur Vysya Bank remains a preferred pick after strong quarterly numbers. Ujjivan Small Finance Bank is another stock in focus after raising its ROE guidance. The banking sector could see gradual improvement as deposit repricing benefits emerge.
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