Stock markets rebound on buying in HDFC Bank, ICICI Bank; Sensex climbs 442.61 pts

Mumbai: Benchmark BSE Sensex surged by 442 points while Nifty closed above the 25,000 level on Monday following buying in blue-chip stocks HDFC Bank and ICICI Bank after their quarterly earnings.

Snapping the two-day falling streak, the 30-share BSE Sensex climbed 442.61 points or 0.54 per cent to settle at 82,200.34. During the day, it surged 516.3 points or 0.63 per cent to 82,274.03.

The 50-share NSE Nifty jumped 122.30 points or 0.49 per cent to 25,090.70.

Firm trend in Asian markets and fresh foreign fund inflows also supported the markets.

Among Sensex firms, Eternal surged the most by 5.38 per cent post its first quarter numbers.

ICICI Bank jumped 2.76 per cent after the company posted a 15.9 per cent jump in its consolidated net profit for the June quarter to Rs 13,558 crore compared to Rs 11,696 crore in the year-ago period.

HDFC Bank climbed 2.19 per cent despite the firm reporting a 1.31 per cent decline in its consolidated net profit to Rs 16,258 crore for the June 2025 quarter.

Mahindra & Mahindra, Bharat Electronics, Kotak Mahindra Bank and Tata Motors were also among the gainers.

However, India's most valuable company Reliance Industries declined 3.29 per cent even after the firm reported its highest-ever quarterly profit of Rs 26,994 crore for the April-June quarter, reflecting a growth of 78.3 per cent over the year-ago period, driven by consumer businesses and investment sales.

HCL Tech, Hindustan Unilever, Tata Consultancy Services and ITC were also among the laggards.

"Positive results from banking majors supported the market to rebound after many days of consolidation. The market remains highly reactive to earnings, indicating that investors remain focused on the earnings front to aid valuation," Vinod Nair, Head of Research, Geojit Investments Limited, said.

In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in positive territory. Equity markets were closed in Japan for a holiday.

European markets were trading lower. The US markets ended on a mixed note on Friday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 374.74 crore on Friday, according to exchange data.

Global oil benchmark Brent crude declined 0.48 per cent to USD 68.93 a barrel.

On Friday, the Sensex tanked 501.51 points or 0.61 per cent to settle at 81,757.73. The Nifty dropped 143.05 points or 0.57 per cent to close at 24,968.40.