New Delhi, Oct. 19 -- Most private bank stocks suffered significant losses in morning trade on Monday, 19 October, dragging the Nifty Bank index down by 1%. Shares of Axis Bank crashed 5%, while those of HDFC Bank and ICICI Bank declined more than 2% and 1%, respectively, during the session. Stocks such as Kotak Mahindra Bank and YES Bank declined up to 1%.

Major banking stocks declined after announcing their Q2 results. HDFC Bank reported a nearly 5% year-on-year (YoY) increase in standalone net profit to Rs.19,509.96 crore. Net interest income (NII) increased 9.72% YoY to Rs.34,619.18 crore in Q2 FY27. Net interest margin (NIM) stood at 3.16% on total assets and 3.32% on interest-earning assets.

ICICI Bank reported a 20.1% YoY growth ...