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Thu, 03 Sept 2026
09:08:20 am
Thu, 03 Sept 2026
09:08:20 am
Synopsis
Nifty Bank and leading banking stocks remain in focus as investors track the latest RBI forex developments, banking sector trends and market movements.
Banking stocks substantially outperformed the broader market in early trade on September 3, 2026, with the Nifty Bank rising nearly 1%. The rally was broad based, with private and PSU banking stocks also gaining strongly.
The Nifty Bank index rose 0.91% to 57,694.95 around 9:40 am after the Reserve Bank of India's overseas capital raising measures brought in $136.38 billion in foreign currency inflows under FCNR(B). ICICI Bank, Axis Bank, HDFC Bank and SBI were among the top Nifty 50 gainers.
The large foreign currency mobilisation through the RBI's special USD INR forex swap facility improved liquidity in the banking system and strengthened India's external buffers. FCNR(B) deposits accounted for $127.23 billion of the total inflows as of August 31, while overseas foreign currency borrowings contributed $5.26 billion and external commercial borrowings added another $3.89 billion.
The FCNR(B) deposit window closed on August 31, while the facility for ECBs and OFCBs will remain open until December 31. The RBI had introduced the special swap facility in June to attract foreign currency inflows when capital outflows, a weakening rupee and elevated crude oil prices were putting pressure on India's external position.
ICICI Bank climbed 1.59% to ₹1,449.20 around 9:40 am, making it one of the top gainers on the Nifty 50. The stock was among the large private sector lenders leading the banking rally.
| Period | Return |
|---|---|
| 1 Day | +1.40% |
| 5 Days | +1.12% |
| 1 Month | +0.74% |
| 6 Months | +5.24% |
| 1 Year | +3.72% |
| 5 Years | +99.41% |
| Metric | Value |
|---|---|
| Current Price | ₹1,444 |
| Market Cap | ₹10,36,248 crore |
| High / Low | ₹1,480 / ₹1,188 |
| Stock P/E | 19.8 |
| Book Value | ₹489 |
| Dividend Yield | 0.84% |
| ROCE | 6.90% |
| ROE | 15.8% |
| Face Value | ₹2 |
| NSE | ICICIBANK |
| BSE | 532174 |
Axis Bank gained 1.55% to ₹1,273.30 around 9:40 am. The private sector lender was also among the top 10 gainers on the Nifty 50 as banking stocks moved higher.
| Period | Return |
|---|---|
| 1 Day | +1.33% |
| 5 Days | +1.23% |
| 1 Month | +3.33% |
| 6 Months | -7.43% |
| 1 Year | +20.28% |
| 5 Years | +58.27% |
| Metric | Value |
|---|---|
| Current Price | ₹1,268 |
| Market Cap | ₹3,94,884 crore |
| High / Low | ₹1,418 / ₹1,047 |
| Stock P/E | 14.2 |
| Book Value | ₹712 |
| Dividend Yield | 0.08% |
| ROCE | 6.24% |
| ROE | 13.1% |
| Face Value | ₹2 |
| NSE | AXISBANK |
| BSE | 532215 |
The Nifty Private Bank index gained 1.17%, while the Nifty PSU Bank index advanced 1.14%. SBI rose 0.92% to ₹1,030.30, while HDFC Bank gained 1.28% to ₹709.80.
The strength also extended to midcap banking stocks. Bank of Maharashtra jumped nearly 4% to ₹85.25, while Punjab & Sind Bank gained 3% to ₹23.31. Bandhan Bank advanced 2.32% and Bank of India rose 2.04%.
The large foreign currency inflows also supported the rupee. The domestic currency strengthened as much as 0.7% to around ₹94.27 against the US dollar on Thursday, reaching its strongest level in more than a month.
Global cues added to the positive mood after US President Donald Trump played down the possibility of a prolonged conflict with Iran. Asian equities gained, while Brent crude paused its three day rise and traded around $95.50 a barrel.
The broader market also moved higher in early trade. At 9:40 am, the Sensex gained 303 points, or 0.40%, to 76,873.51, while the Nifty 50 rose 96 points, or 0.40%, to 24,010.90.
Market breadth remained positive, with 2,232 shares advancing against 914 declines. The India VIX fell around 5% to 11.02, while Nifty Realty gained 1.51% and Nifty Metal rose 0.89%. Nifty IT declined 1% and Nifty FMCG fell 0.46%.
Nifty Bank is rising as banking stocks gained strongly after the latest RBI forex inflow data and a broader improvement in market sentiment.
The latest Nifty Bank news is focused on strong banking sector gains after the RBI reported large foreign currency inflows through its special forex swap facility.
Nifty Bank is a major index to watch because large private and PSU banks are contributing to the current market move.
Banking stocks are gaining as the latest RBI forex inflow data has improved sentiment around the banking sector and system liquidity.
The RBI's special USD INR forex swap facility mobilised $136.38 billion in foreign currency inflows as of August 31, according to provisional RBI data.
FCNR(B) deposits are foreign currency deposits held by non resident customers with Indian banks. They accounted for the largest share of the latest forex mobilisation under the RBI facility.
FCNR(B) deposits contributed $127.23 billion to the total mobilisation reported under the RBI's special forex swap facility as of August 31.
Yes. ICICI Bank mobilised about $17.88 billion through FCNR(B) deposits under the RBI's special forex swap facility by August 31.
ICICI Bank shares are rising along with the broader banking sector, with the stock among the leading gainers on the Nifty 50 during early trade.
ICICI Bank is a major private sector banking stock to watch as investors track its business performance, deposit trends and broader banking sector movements.
The latest ICICI Bank stock news is centred on its gains during the banking sector rally and its FCNR(B) mobilisation under the RBI forex facility.
Axis Bank shares are gaining along with other large private sector banks as the banking sector advances strongly in early trade.
Axis Bank is a major private sector bank stock that remains in focus as investors track banking sector performance and the latest market developments.
Axis Bank shares are among the large private bank stocks gaining during the current banking sector rally.
Yes. HDFC Bank shares gained in early trade along with other large private sector lenders.
SBI shares are gaining as PSU banks participate in the broader banking sector rally.
Yes. The Nifty PSU Bank index advanced strongly in early trade, with several PSU banking stocks moving higher.
Yes. The Nifty Private Bank index also gained strongly, with ICICI Bank, Axis Bank and HDFC Bank among the large private lenders leading the move.
It is a facility introduced by the RBI to encourage foreign currency inflows through FCNR(B) deposits, overseas foreign currency borrowings and external commercial borrowings.
The FCNR(B) deposit mobilisation window closed on August 31, 2026. The RBI had earlier brought forward the deadline after strong inflows through the facility.
The facility for external commercial borrowings and overseas foreign currency borrowings remains available until December 31, 2026.
The large forex mobilisation has added foreign currency resources to the banking system, while market reports have linked the inflows with a substantial improvement in banking system liquidity.
The large inflows have supported India's foreign currency position, while the rupee also strengthened during the September 3 trading session.
The rupee strengthened by as much as 0.7% to around ₹94.27 against the US dollar during early trade on September 3.
ICICI Bank, Axis Bank, HDFC Bank and SBI were among the large banking stocks leading gains during early trade.
Bank of Maharashtra, Punjab & Sind Bank, Bandhan Bank and Bank of India were among the midcap banking stocks gaining during early trade.
Both ICICI Bank and Axis Bank are in focus, with the two private sector lenders among the leading gainers during the banking sector rally.
The RBI forex inflow development is relevant for ICICI Bank because the bank was one of the major lenders that mobilised FCNR(B) deposits under the facility.
The RBI forex development is relevant for Axis Bank as it is a major private sector lender and participated in the broader banking sector move.
Nifty Bank remains sensitive to banking liquidity, currency movements, interest rates, global risk sentiment and the financial performance of its constituent banks.
Investors will watch liquidity conditions, deposit trends, credit growth, interest margins and further developments around foreign currency funding.
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