Banking stocks showed strong performance on July 6, 2026, with Nifty 50 trading above 24,400 led by banking sector gains following quarterly business updates from major private lenders. According to Angel One, HDFC Bank shares rose 2.73% to ₹822.90 each, leading the banking sector gains. The positive market sentiment was supported by continued foreign institutional investor (FII) buying and crude oil trading below US$72 per barrel. Market breadth remained positive with 1,608 stocks advancing, 1,400 declining, and 116 remaining unchanged as of 10:25 AM on July 6. 119 stocks touched their 52-week highs while 31 hit their 52-week lows, indicating broad-based participation across the market.
As reported by Mint, HDFC Bank reported a 15.4% year-on-year rise in gross advances to ₹30.61 lakh crore for the quarter ended June 30, 2026, compared with ₹26.53 lakh crore in the corresponding quarter last year. The bank's advances under management stood at around ₹31.27 lakh crore, marking a 12.4% YoY increase from ₹27.82 lakh crore as of June 30, 2025. On the liabilities side, total deposits climbed 14.7% YoY to ₹31.71 lakh crore, while CASA deposits at ₹10.26 lakh crore grew 9.4% from ₹9.37 lakh crore reported a year earlier. According to the latest exchange filing, average advances under management stood at ₹30.39 lakh crore during the June 2026 quarter, registering a 10.8% year-on-year increase from ₹27.42 lakh crore in the corresponding quarter last year. Average deposits increased 13.3% YoY to ₹30.11 lakh crore during the quarter, with average CASA deposits rising 11.2% YoY to ₹9.57 lakh crore.
According to Mint, Axis Bank reported 18.8% growth in gross advances to ₹12.73 lakh crore for Q1 FY27, significantly outperforming expectations. On a sequential basis, loans and advances grew 4% from ₹2.73 lakh crore in Q4 FY6. The bank's deposits climbed 18.2% to ₹13.73 lakh crore, with CASA deposits increasing 11.4% to ₹5.22 lakh crore and term deposits jumping 22.8% to ₹8.51 lakh crore. Analysts at brokerage firm Jefferies noted that Axis Bank saw a better-than-expected pickup in loan growth, with the strong performance helping drive the stock's gains.
As reported by Mint, Kotak Mahindra Bank reported that net advances increased over 15% year-on-year to ₹5.12 lakh crore for Q1 FY27, compared with ₹4.45 lakh crore in the corresponding period last year. Deposits grew nearly 12% YoY to ₹5.73 lakh crore, though growth remained largely flat on a sequential basis, rising just 0.1% from ₹5.72 lakh crore in Q4 FY6. CASA deposits climbed more than 10% YoY to ₹2.31 lakh crore, though they declined around 7% quarter-on-quarter from ₹2.48 lakh crore in Q4 FY6. The lender clarified these figures are provisional and subject to audit. Kotak Mahindra Bank shares were trading 3.16% lower at ₹384.20 after posting a sequential moderation in both loan and deposit growth, with analysts noting the bank's growth softened slightly compared to expectations.
According to Angel One, sustained FII buying supported market sentiment, with FIIs turning net buyers worth ₹1,355.33 crore on July 3, 2026, marking their third consecutive session of net purchases. During the session, FIIs bought shares worth ₹13,337.33 crore and sold equities worth ₹11,982.00 crore. However, domestic institutional investors (DIIs) were net sellers with purchases worth ₹18,676.35 crore and sales worth ₹20,630.24 crore, resulting in a net outflow of ₹1,953.89 crore. For the calendar year to date, FIIs have remained net sellers of equities worth ₹3.47 lakh crore, while DIIs have been net buyers worth ₹4.60 lakh crore. Indian equity benchmarks outperformed with Bank Nifty leading the gains, while IndusInd Bank reported sequential growth of 3.3% in net advances and 3.8% in deposits during the June quarter, with advances down 2.3% year-on-year while deposits rose 4.5%.
