Bank Nifty falls 1.4% post-Q1 results by heavyweight private banks; HDFC, Axis Bank decline up to 5%

Bank Nifty fell 1.4% after Q1 results from heavyweight private banks.

HDFC Bank and Axis Bank declined up to 5%.

Jefferies noted ICICI Bank surprised positively, followed by Kotak Bank and Axis Bank.

HDFC Bank's earnings were assessed as relatively weaker by Jefferies.

The market reaction reflects investor sentiment post-earnings from major private banks.