Indian equities edge up at the open as banks rise on quarterly business updates
AI Market Summary
Indian equities opened modestly higher, extending a rebound as banks and financials led gains on positive quarterly loan and deposit updates (notably Axis Bank and Kotak Mahindra Bank). A strong revenue growth outlook also lifted Trent sharply, supporting broader risk sentiment. The move is reinforced by lower oil prices and softer US jobs data, which ease inflation and rate pressure in the near term.
Impact level
● Medium
Affected assets
NCSIKOSPI2USD/USDT-1.75%
AI Insight · NCSIKOSPI2USD/USDTAI Insight
▲ Bullish
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Indian stocks opened slightly higher on Tuesday, extending the rebound seen in the previous session. The Nifty 50 added 0.11% to 22,581.25, while the Sensex rose 0.1% to 72,445.54.
Financials and bank shares climbed 0.5% each. Axis Bank gained 1.4% and Kotak Mahindra Bank advanced 2.6% after both reported quarterly growth in deposits and loans.
Trent jumped 10% after forecasting a 23% increase in quarterly revenue.
The prior day's uptick was supported by a drop in oil prices and weaker-than-expected U.S. employment data.
