HDFC Bank’s shares jumped 1.8% to ₹1,025 by 10:30 a.m. IST after the bank announced a 5.55% rise in Q2 FY27 consolidated net profit to ₹20,700 crore, according to the BSE filing.
ICICI Bank followed suit, reporting a 22.28% surge in net profit to ₹16,333.18 crore, up from ₹13,357.06 crore a year earlier— a jump that sent its stock up 2.4% on the day. Meanwhile Axis Bank’s earnings posted a 39.4% increase, reaching ₹7,704.67 crore, buoyed by higher core income and tighter asset‑quality controls.
On the broader stage, Sensex closed at 1,000,000 points, up 2,256.94 points or 3.11%, while Nifty touched 18,000, up 625.7 points or 2.77%, the second consecutive week of gains led primarily by IT names.
Global drivers are still on the radar: US Treasury yields edged up by 5 basis points, crude oil traded above $90 a barrel, and Middle East tensions simmer— all feeding rupee volatility and impacting corporate profit margins. The rupee slipped 0.3% against the dollar, a move that could erode export earnings for the banking sector.
The earnings calendar remains thick: Bajaj Finance, UltraTech Cement, Hindustan Zinc, Union Bank of India, IREDA, Infosys, Coforge, Crisil, and Swiggy are set to report next week, with analysts eyeing whether the banking rally will broaden to the industrial and consumer sectors.
Looking ahead, HDFC Bank’s management has signalled a cautious outlook, expecting a 15% net profit margin in Q3 FY27, but warned that rising discount rates may curb loan growth. Market participants will watch FY27 guidance, Treasury‑rate trends, and the rupee’s trajectory for clues on whether the current rally can sustain itself.