More Stories

Informist, Thursday, Oct. 1, 2026

 

MUMBAI – All eyes will be on HDFC Bank shares next week after the Reserve Bank of India approved Anup Bagchi's appointment as the bank's managing director and chief executive officer for a three-year term. The appointment takes effect on Oct. 27. "This could play out either way, as he is a veteran, so a lot of experience comes along with him, but the transition to a new institution and the time it may take will be a concern," an analyst at a large-sized brokerage said.

 

The top position at India's largest private sector bank made headlines after Sashidhar Jagdishan, the bank's current managing director and chief executive officer, said he would retire when his term ends on Oct. 26. HDFC Bank's former chairman Atanu Chakraborty resigned in March, citing practices that were not aligned with his personal values and ethics.

 

Banking sector shares will also take cues from the Reserve Bank of India's Monetary Policy Committee meeting next week, analysts said. "The RBI policy decision will be the key domestic trigger, with pressure to support the rupee and contain imported inflation strengthening expectations of a rate hike," Vinod Nair, head of research at Geojit Investments Ltd., said in a note. 

 

The Nifty Bank index fell 2.0% on week to 54,450.75, with its immediate resistance at 55,561.10 and support at 53,511.40. Among banking stocks, Yes Bank fell the most during the week, down 7.8%, followed by Union Bank of India, which declined 7.0%. Kotak Mahindra Bank was the only gainer, rising 3.6%. The Nifty Bank's 2.0% weekly decline was less severe than the Nifty 50's 3.1?ll, indicating that banking stocks performed relatively better over the week.

 

"Bank Nifty is currently consolidating at lower levels while sustaining below its key short-term 20-DMA and 10-DMA on the daily chart, indicating weak sentiment," LKP Securities said in its technical analysis. "Repeated rejection from the resistance zone further reflects weakness in the chart structure and suggests that selling pressure remains intact. Hence, a sell-on-rise strategy may remain preferable for index traders... Unless the index decisively reclaims the resistance zone, the near-term structure is likely to remain weak."

 

TOP HEADLINES

* Tamilnad Mercantile Bank advances up 29% YoY as on Sept 30, deposits up 25%

* Karur Vysya Bank advances as on Sept 30 up 20% YoY at INR 1.12 tln

* Capital Small Fin Bk gross advances as of Sept 30 up 23% YoY at INR 97.6 bln

* Fitch assigns  'A+(idn)' rating to Bank of India Indonesia, outlook positive

* Banking secy says hopeful of significant invest from offshore pension funds

* YES Bank gets INR-3.63-bln income tax refund for assessment year 2017-18

* Kotak Mahindra Bk says RBI approves Anup Saha's appointment as MD, CEO

* Punjab National Bank keeps MCLR unchanged across tenures

* IBC can continue against co in larger interest even if fraud detected - SC

* Weighted average lending rate on new bank loans rises 9 bps MoM to 8.61% Aug

* Credit growth accelerates across agri, industry, svcs in Aug, RBI data shows

* RBL Bank gets INR-1.73-bln GST demand from Maharashtra tax dept

* Can't have daily NAVs for AIFs due to illiquid assets, says SEBI chairman

* Data Alert: Banks' investments up 6.9% as on Sept 15 post FCNR(B) inflow

* Bank of Maharashtra cuts some MCLR rates, hikes for 1-year tenor

* NCLT admits Canara Bank's insolvency plea against PBA Infrastructure

* Punjab & Sind Bank to raise up to $1 bln through foreign currency bonds

* Bank of India keeps MCLR unchanged across tenures

* Fitch assigns 'BBB-' rating to Bank of India's $1-bln MTN programme

* Equitas Small Fin Bk's GST demand cut to INR 239.5 mln from INR 5.34 bln

* Bank of India approves $1 bln euro medium-term note programme

* ICRA reaffirms 'A1+' rating on Karur Vysya Bank CD worth INR 120 bln

* Bank unions body defers 3-day nationwide strike after talks with IBA

* Kotak Mahindra Invest okays merger with Kotak Alternate Asset Managers

* Cooperative banks to remain open during proposed three-day bank strike

* Post stake buy report, Jana Small Fin Bk, Federal Bk say no undisclosed info

* Govt extends Indian Bank ED Shiv Bhajrang's tenure to Feb 2027

* PRESS: Federal Bk stake buy in Jana Small Fin Bk may be announced soon

 

Following are the resistance and support levels for key bank stocks for next week as per calculations based on their prices on the National Stock Exchange:

 

Company	Price	Week-on-Week Change in %	Resistance	Support
AU Small Finance Bank	987.00	(-)3.10	1024.90	955.30
Axis Bank	1217.10	(-)0.40	1251.00	1198.40
Bank of Baroda	230.82	(-)1.90	235.90	227.00
Canara Bank	118.36	(-)5.30	122.00	114.70
Federal Bank	318.20	(-)1.20	325.40	310.20
HDFC Bank	721.20	(-)2.00	730.70	702.30
ICICI Bank	1310.60	(-)1.20	1337.80	1294.80
IDFC FIRST Bank	80.39	(-)4.10	82.30	78.60
IndusInd Bank	886.85	(-)2.80	909.80	868.90
Kotak Mahindra Bank	418.35	3.60	442.90	403.80
Punjab National Bank	109.57	(-)6.00	114.80	106.80
State Bank of India	954.10	(-)2.90	974.70	935.50
Union Bank of India	167.59	(-)7.00	175.60	160.80
Yes Bank	20.75	(-)7.80	21.50	20.20
Index	Levels
Nifty Bank	54450.75	(-)2.00	55561.10	53511.40
Nifty 50	22421.95	(-)3.10	22809.90	22023.30
S&P BSE Sensex	71909.70	(-)2.70	73205.20	70645.10

 

 

End

 

US$1 = INR 96.3150

 

Reported by Kabir Sharma

Edited by Saji George Titus

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.