Indian shares edge up as Axis Bank and Kotak Mahindra Bank rise on quarterly updates
AI Market Summary
Indian equities opened slightly higher, extending a rebound led by banks after positive quarterly loan and deposit growth updates from Axis Bank and Kotak Mahindra Bank. Broader risk tone was supported by lower oil prices and softer U.S. jobs data, which eased fears of aggressive Fed tightening, while focus turns to an upcoming central bank policy decision. The move appears incremental rather than trend-defining.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-0.34%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Indian stocks opened slightly higher on Tuesday, extending the previous session’s rebound. The Nifty 50 added 0.11% to 22,581.25 and the BSE Sensex rose 0.1% to 72,445.54. Financials and banks each gained 0.5%, with Axis Bank up 1.4% and Kotak Mahindra Bank up 2.6% after their quarterly updates showed higher advances and deposits, according to Reuters. Trent jumped 10% after projecting a 23% year-on-year rise in standalone revenue for the September quarter.
