Key Events This Week
2 Feb: Stock opens at Rs.408.20 with marginal gain despite Sensex decline
3 Feb: Intraday high of Rs.423.40 and strong value trading amid sector gains
4-5 Feb: Two-day correction with volume spike and delivery volume surge
6 Feb: Intraday high of Rs.422.05 and robust trading activity closes week at Rs.422.35
2 February 2026: Modest Start Amid Market Weakness
Kotak Mahindra Bank began the week with a slight gain of 0.05%, closing at Rs.408.20, despite the Sensex falling 1.03% to 35,814.09. The stock’s resilience in a broadly negative market set an early tone of relative strength. Trading volume was moderate at 1,99,836 shares, indicating steady investor interest as the market digested recent developments.
3 February 2026: Intraday High and Robust Value Trading
The stock surged 1.83% to close at Rs.415.65, hitting an intraday high of Rs.423.40, a 3.72% increase from the previous close. This intraday peak marked a significant milestone, outperforming the private sector banking sector’s 2.75% gain and the Sensex’s 2.63% advance. The day saw exceptional trading activity, with a volume of over 1 million shares and a traded value exceeding ₹416 crores, placing Kotak Mahindra Bank among the most actively traded stocks by value.
Institutional participation was evident, although delivery volumes declined sharply by 41.84% compared to the five-day average, suggesting a predominance of short-term trading. Technically, the stock traded above its 5-day moving average but remained below longer-term averages, reflecting short-term bullish momentum amid medium-term consolidation.
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4-5 February 2026: Correction Phase with Elevated Volumes
The stock experienced a two-day correction, declining 0.83% and 0.86% respectively to close at Rs.412.20 and Rs.408.65. Despite the price dip, volumes surged dramatically, particularly on 5 February when over 7.3 million shares changed hands. Notably, delivery volumes on 5 February rose by 53.25% compared to the five-day average, signalling increased investor conviction and accumulation during the dip.
Market conditions were mixed, with the Sensex showing a minor decline of 0.53% on 5 February. Kotak Mahindra Bank’s price action during this period reflected a consolidation phase, with the stock hovering near its 5-day moving average but still below medium- and long-term technical resistance levels.
6 February 2026: Strong Rebound and High-Value Trading
Closing the week on a positive note, Kotak Mahindra Bank surged 3.35% to Rs.422.35, reaching an intraday high of Rs.422.05. This rally outpaced the Sensex’s modest 0.10% gain and the private sector banking sector’s 0.02% rise, underscoring the stock’s relative strength. The day’s trading volume was robust at 3,48,074 shares, with a traded value exceeding ₹2,253 crores, marking it as one of the highest value movers on the day.
Delivery volumes increased significantly, reflecting renewed institutional and retail investor confidence. Technically, the stock traded above its 5-day, 20-day, and 200-day moving averages, indicating both short- and long-term bullish momentum, although resistance remains at the 50-day and 100-day averages.
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Weekly Price Performance: Kotak Mahindra Bank vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-02 | Rs.408.20 | +0.05% | 35,814.09 | -1.03% |
| 2026-02-03 | Rs.415.65 | +1.83% | 36,755.96 | +2.63% |
| 2026-02-04 | Rs.412.20 | -0.83% | 36,890.21 | +0.37% |
| 2026-02-05 | Rs.408.65 | -0.86% | 36,695.11 | -0.53% |
| 2026-02-06 | Rs.422.35 | +3.35% | 36,730.20 | +0.10% |
Key Takeaways
Outperformance and Momentum: Kotak Mahindra Bank outpaced the Sensex by 2.01% over the week, driven by strong intraday rallies on 3 and 6 February. The stock’s ability to rebound after a brief correction highlights underlying strength.
Robust Trading Activity: High traded values exceeding ₹400 crores on 3 February and ₹2,253 crores on 6 February underscore strong liquidity and investor interest, particularly from institutional players.
Technical Signals: The stock’s position above short- and long-term moving averages on 6 February signals improving momentum, though resistance at medium-term averages suggests cautious optimism.
Mojo Grade and Outlook: The Hold rating with a Mojo Score of 67.0 reflects a balanced view, acknowledging the stock’s recent gains while recognising potential headwinds and technical consolidation.
Delivery Volume Trends: The surge in delivery volumes on 5 February indicates growing investor conviction, contrasting with earlier short-term trading dominance, which may support more sustainable price appreciation.
Conclusion
Kotak Mahindra Bank Ltd demonstrated a commendable performance in the week ending 6 February 2026, with a 3.52% gain that outstripped the broader market’s 1.51% rise. The stock’s strong intraday highs, robust trading volumes, and increased delivery participation reflect a healthy appetite among investors despite a cautious mojo rating. While technical resistance remains a factor to watch, the bank’s liquidity and relative strength within the private banking sector position it well for continued market relevance. Investors should monitor upcoming quarterly results and macroeconomic developments to assess the sustainability of this momentum amid evolving market conditions.
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