The Nifty Financial Services Index witnessed a mixed session on October 20, 2025, as select banking and NBFC stocks advanced while others faced selling pressure. Positive momentum in Bajaj Finserv and Axis Bank supported the index, while ICICI Bank emerged as the biggest drag. Overall, the sector reflected cautious optimism ahead of key quarterly earnings and macroeconomic announcements.
| Symbol | LTP (₹) | Change | % Change | Volume (Lakhs) | Value (₹ Crores) |
| BAJAJFINSV | 2,132.50 | +48.80 | +2.34% | 9.09 | 193.08 |
| AXISBANK | 1,225.10 | +24.90 | +2.07% | 33.82 | 413.50 |
| SBIN | 906.25 | +17.10 | +1.92% | 60.78 | 548.26 |
| SHRIRAMFIN | 686.10 | +10.60 | +1.57% | 24.76 | 169.71 |
| LICHSGFIN | 576.00 | +7.75 | +1.36% | 6.45 | 37.01 |
Bajaj Finserv led the gainers, climbing 2.34% to ₹2,132.50 on strong institutional buying in NBFC counters. Axis Bank advanced 2.07% to ₹1,225.10 with significant volumes of 33.82 lakh shares. State Bank of India rose 1.92%, supported by stable credit growth outlook. Shriram Finance and LIC Housing Finance also gained, reflecting steady demand in the housing and retail finance segments.
| Symbol | LTP (₹) | Change | % Change | Volume (Lakhs) | Value (₹ Crores) |
| ICICIBANK | 1,403.00 | -33.60 | -2.34% | 99.91 | 1,407.88 |
| MUTHOOTFIN | 3,294.60 | -39.90 | -1.20% | 1.56 | 51.52 |
| HDFCLIFE | 739.25 | -6.70 | -0.90% | 8.05 | 59.97 |
| SBILIFE | 1,832.80 | -11.30 | -0.61% | 2.24 | 41.16 |
| ICICIPRULI | 593.00 | -2.75 | -0.46% | 5.71 | 33.89 |
ICICI Bank was the biggest laggard, falling 2.34% to ₹1,403.00 on heavy volumes nearing 1 crore shares. Muthoot Finance declined 1.20% amid profit booking following its recent rally. Life insurance majors HDFC Life, SBI Life, and ICICI Prudential also ended in the red, reflecting muted investor sentiment toward the insurance segment.
The financial services sector exhibited selective strength, with PSU banks and NBFCs driving the gains. Axis Bank and SBI outperformed on expectations of healthy credit growth in Q2 results, while ICICI Bank’s decline weighed on the index. NBFCs such as Bajaj Finserv and Shriram Finance benefited from festive season loan demand and improving liquidity conditions.
However, the insurance segment remained subdued amid concerns over slower policy renewals and rising competition. Analysts expect short-term volatility to persist, influenced by upcoming earnings releases and global interest rate developments.
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October 20 saw a mixed performance in the Nifty Financial Services Index, with gains in Bajaj Finserv and Axis Bank countered by weakness in ICICI Bank and key insurance players. While momentum in NBFCs and PSU banks indicates underlying strength in retail and corporate lending, selective profit booking in private banking counters reflects cautious investor sentiment. The sector’s near-term direction will depend on quarterly results and macroeconomic signals shaping market expectations.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Oct 20, 2025, 11:57 AM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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