Sensex jumps 342 pts, Nifty trades above 25,050; financial services shares in demand

The key equity indices traded with moderate gains in the mid-morning trade, lifted by strong Q1 results from HDFC Bank, ICICI Bank, and Reliance Industries, helping offset global trade uncertainties.

The Nifty traded above the 25,050 mark. Financial services shares advanced after declining for previous three straight sessions.

At 11:30 ST, the barometer index, the S&P BSE Sensex, rose 341.61 points or 0.42% to 82,100.67. The Nifty 50 index added 90.00 points or 0.36% to 25,058.05.

In the broader market, the S&P BSE Mid-Cap index rose 0.33% and the S&P BSE Small-Cap index fell 0.03%.

The market breadth was negative. On the BSE, 1,919 shares rose and 1,933 shares fell. A total of 233 shares were unchanged.

Buzzing Index:

The Nifty Financial Services index rose 1.30% to 26,900.60. The index shed 0.10% in the previous three trading sessions.

ICICI Bank (up 2.55%), HDFC Bank (up 1.98%), ICICI Prudential Life Insurance Company (up 1.35%), HDFC Life Insurance Company (up 1%) and Kotak Mahindra Bank (up 0.93%), Bajaj Finserv (up 0.88%), Bajaj Finance (up 0.72%), Cholamandalam Investment & Finance Company (up 0.67%), Muthoot Finance (up 0.64%) and ICICI Lombard General Insurance Company (up 0.64%) added.

On the other hand, REC (down 0.75%), LIC Housing Finance (down 0.67%) and Axis Bank (down 0.65%) edged lower.

ICICI Bank rose 2.55% after the bank reported a standalone net profit of Rs 12,768.21 crore in Q1 FY26, up 15.45% as against Rs 11,059.11 crore posted in Q1 FY25. Total income increased 11.85% year on year (YoY) to Rs 51,451.81 crore in Q1 FY26.

HDFC Bank rose 1.98% after the bank's profit after tax (PAT) for the quarter ended June 2025 was at Rs 18,155.21 crore, a growth of 12.24% over the quarter ended June 2024. Net interest income (interest earned less interest expended) for the quarter ended June 2025 grew by 5.4% to Rs 31,440 crore from Rs 29,840 crore for the quarter ended June 2024.

Stocks in Spotlight:

Reliance Industries (RIL) fell 2.73%. The company's profit after tax and share of profit/(loss) of associates & JVs increased by 76.5% year-on-year (Y-o-Y) to Rs 30,783 crore in Q1 June 2025. The company's gross revenue increased by 6% Y-o-Y to Rs 273,252 crore in Q1 June 2025.

RBL Bank fell 1.45% after the private lender's standalone net profit tumbled 46.07% to Rs 200.33 crore in Q1 FY26 as against Rs 371.52 crore posted in Q1 FY25. However, total income increased 4.85% year on year (YoY) to Rs 4,510.57 crore in the quarter ended 30 June 2025.

Global Markets:

Most Asian stocks traded higher on Monday after the People's Bank of China opted to leave its key loan prime rates unchanged, keeping the 1-year rate at 3.0% and the 5-year rate at 3.5%. This move provided a measure of stability in the region, even as broader market sentiment remained shaped by renewed concerns over global trade policy.

Trade developments came back into focus over the weekend following strong signals from Washington. The White House reiterated its stance on tariffs, with U.S. Commerce Secretary Howard Lutnick designating August 1 as the definitive deadline for countries to begin paying newly announced tariffs. Still, Lutnick added that negotiations could continue beyond that date, suggesting a potential window for ongoing dialogue.

In the U.S., major equity indices lost some ground on Friday as uncertainty around the Trump administration's trade strategy persisted. Reports indicated that President Trump remained intent on imposing a 15% to 20% levy on the European Union, even if a broader deal is reached, while the EU was said to be arguing for a 10% tariff in response. Despite continued statements from the White House about ongoing negotiations, the number of new trade deals announced remains notably lower than what Trump had promised earlier in the year.

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