New Delhi, July 20 -- Private banking stocks declined over 5% in early trade on Monday after the lenders announced their Q1 results. The Nifty Private Bank index dropped around 2.72%.

HDFC Bank and Axis Bank shares emerged as the top losers in the Nifty Private Bank index, with a fall of over 5% each. Kotak Mahindra Bank and Yes Bank share price declined over 3% each.

ICICI Bank share price outperformed, as the stock gained as much as 2.47%.

Banks Q1 results showed mixed net interest margin (NIM) trends, with sequential expansion across mid-sized private and state-run banks, while most large private banks reported a mid-teen bps decline, mainly due to loan-mix changes and spread compression.

During the fiscal first quarter ended June ...