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  5. NIFTY Bank rises 220 points as AU Small Finance Bank, Bank of Baroda, SBI & Canara Bank lead

Market News

NIFTY Bank rises 220 points as AU Small Finance Bank, Bank of Baroda, SBI & Canara Bank lead

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
By Kamal Joshi

2 min read | Updated on November 02, 2026, 13:24 IST

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SUMMARY

Union Bank of India shares rose 0.10% to ₹186.19 per unit on the NSE. Its market capitalisation stands at ₹142,130.10 crore.

Stock list

AUBANK
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BANKBARODA
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SBIN
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CANBK
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Shares of HDFC Bank, IndusInd Bank, Axis Bank, Federal Bank and ICICI Bank were down. | Image: Shutterstock

Shares of HDFC Bank, IndusInd Bank, Axis Bank, Federal Bank and ICICI Bank were down. | Image: Shutterstock

The NIFTY Bank index was trading in the positive territory on Monday, November 2, led by PSU banks, including Bank of Baroda, State Bank of India and Canara Bank.

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The index rose 220 points, or 0.40%, to 54,906 at 12:41 pm.

The surge was led by a rise in stocks like AU Small Finance Bank, Yes Bank, Bank of Baroda, IDFC First Bank, SBI, Canara Bank, Punjab National Bank, Union Bank and Kotak Mahindra Bank.
AU Small Finance Bank stock was trading 3.3% higher, while Yes Bank gained 2.9%. Similarly, shares of Bank of Baroda and Canara Bank saw an uptick of 2.91%, and 1.4%, respectively.

State Bank of India, which is up 1.70%, will declare its latest set of data for the September quarter of the financial year 2026-27 on Tuesday, November 3.

Union Bank of India shares ascended 0.10% to ₹186.19 per unit. Its market capitalisation stands at ₹142,130.10 crore.

Meanwhile, shares of HDFC Bank, IndusInd Bank, Axis Bank, Federal Bank and ICICI Bank were down.

The NIFTY Bank has gained 0.65% in a week and 0.36% in a month. Year-to-date, the index has declined 8.48%.

Last week, state-owned Bank of Baroda reported a 31% increase in September quarter consolidated net profit at ₹6,737.28 crore, helped by its stake sale in the largest equity bourse, NSE.

On a standalone basis, the lender posted its highest-ever quarterly profit after tax of ₹6,532 crore, reflecting a growth of 35.8% year-on-year.

The core net interest income (NII) went up by 9% to ₹13,026 crore on the back of 18.3% growth in advances and a 0.22% compression in net interest margin (NIM) to 2.74%.

Canara Bank had posted a 8.4% rise in Q2 FY27 net profit to ₹5,175 crore from ₹4,774 crore.

The Bengaluru-based lender's NII or the difference earned on loans and expended on deposits climbed 20% to ₹11,004.75 crore from ₹9,141 crore.

About The Author

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
Kamal Joshi is a business journalist who covers markets and IPOs. He places a special focus on in-depth analysis of DRHPs, RHPs and public-issue documents to produce data-driven stories. He covers trends across mainboard and SME IPOs, anchor allocations, subscription status and post-listing performance. He is passionate about breaking news and enjoys playing pickleball, especially flexing his net play. He was previously associated with Republic TV and LatestLY.

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