IDFCFIRSTB.NS Stock Today: January 9 — Savings Rate Cuts Take Effect
IDFC First Bank share price is in focus today as the lender’s savings rate cut takes effect on January 9. Balances between INR 1 lakh and INR 10 lakh now earn 5% versus 7%, trimming cost of funds and aiding margins. The latest price is INR 84.93, up 0.24% today, with a day range of INR 84.46–86.27. Nomura has begun coverage with a Buy rating and a INR 105 target, implying near 25% upside. We track price action, drivers, and next catalysts for IDFCFIRSTB.NS.
Savings rate cut: details and impact
IDFC First Bank has reduced savings-account rates by up to 200 bps from today. For example, balances between INR 1 lakh and INR 10 lakh now earn 5% versus 7% earlier. Higher slabs also see lower rates. The bank expects the move to support profitability as funding costs ease. Early market reaction has kept the IDFC First Bank share price in a tight range. Source
Lower savings rates reduce what the bank pays depositors. That helps expand net interest margin, the gap between interest earned on loans and paid on deposits. A wider margin can support earnings if loan growth stays healthy. The change may also help price new deposits better. This can be a near-term tailwind for the IDFC First Bank share price if growth and asset quality hold up.
Price action and technical picture
The stock trades at INR 84.93, up 0.24% versus the previous close. Intraday, it moved between INR 84.46 and INR 86.27. The 52-week high is INR 87.00. The 50-DMA sits at INR 81.87 and the 200-DMA at INR 72.88. Volume is 1.48 crore shares versus a 2.83 crore average. IDFC First Bank share price stays above key moving averages.
RSI is 58, which is neutral to positive. ADX is 27.9, showing a firm trend. MACD is a shade below its signal, so momentum is steady, not hot. Bollinger upper band near INR 87.27 lines up with recent highs. A clean close above that zone can extend gains. Dips toward INR 82 may see buyers.
Nomura’s call and what it means
Nomura has started coverage with a Buy rating and a INR 105 target, about 25% upside from current levels. The house cites a strong retail franchise, improving margins after the savings rate cut, better asset quality, and operating leverage. This positive stance supports the IDFC First Bank share price near recent highs. Source
Lower rates can test deposit growth, so watch customer inflows after the change. Competition for deposits may stay active. Credit costs, especially in unsecured and small business loans, need monitoring. Execution on technology and branch productivity is important. Any miss on growth or asset quality could cap the IDFC First Bank share price in the short term.
What to track this month
The bank is slated to report Q3 results on January 31, 2026. Focus points include net interest margin, cost of funds after the savings rate cut, loan growth, credit costs, and fee income. Commentary on deposit mix and CASA will be key. Clear guidance can be a driver for the IDFC First Bank share price into February.
Watch if the stock sustains above INR 85 and breaks INR 87–88 with strong volume. Supports sit near INR 82 at the 50-DMA and INR 80 on the lower band. Track deposit trends, margin progress, and asset quality. Staggered entries may suit volatile days. Keep an eye on Nomura’s Buy rating for sentiment cues.
Final Thoughts
The savings rate cut that starts today should lower funding costs and support margins, which is constructive for earnings. Nomura’s Buy rating and INR 105 target adds a positive signal for sentiment. Price action is firm, with the stock near its 52-week high and above key moving averages. Near term, we would watch deposit momentum after the change, margin trend, and credit costs. The January 31 results could reset expectations. If management shows steady growth and clean asset quality, the IDFC First Bank share price may find support on dips. Set alerts around INR 82 and INR 87, and review updates from the results call.
FAQs
What changed in IDFC First Bank savings rates from January 9?
The bank has cut savings-account rates by up to 200 bps. For example, balances between INR 1 lakh and INR 10 lakh now earn 5% versus 7% earlier. Higher balance slabs also see lower rates. The change is meant to reduce funding costs and support margins and profitability.
How do savings rate cuts affect the IDFC First Bank share price?
Lower savings rates reduce interest paid on deposits, which can lift margins if lending stays strong. Better margins can support earnings and sentiment. That can help the IDFC First Bank share price hold gains, provided deposit growth and asset quality are stable and competition does not intensify.
What is Nomura’s view and target on IDFC First Bank stock?
Nomura has initiated coverage with a Buy rating and a INR 105 target, implying about 25% upside from current levels. The call highlights a strong retail franchise, improving margins after the savings rate cut, better asset quality, and operating leverage as key drivers for earnings and valuation.
What key levels should traders watch on IDFC First Bank?
Near-term resistance sits around INR 87–88, near the recent high and upper band. Supports are near INR 82 at the 50-DMA and INR 80. A strong close above INR 87 with higher volume may open room higher. Weakness below INR 82 can point to consolidation.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
