Mumbai, Oct. 9: Kotak Mahindra Bank, the country's fourth-largest private lender, today scaled a new milestone when its market capitalisation crossed Rs 2 lakh crore during intra-day trade.

The company's shares today hit a new high of Rs 1,053.10 in intra-day trade, causing the market cap to breach the Rs 2-trillion mark. The SBI and HDFC Bank are the two other lenders with market cap of over Rs 2 lakh crore. The SBI's market cap is now Rs 2,21,412 crore, while that of HDFC Bank is Rs 4,63,814 crore.

With the Kotak Bank stock coming off its intra-day high to close at Rs 1,049.95, a gain of 1.23 per cent, its market cap closed a tad below Rs 2 trillion at Rs 1,99,898 crore.

The market cap of Kotak Bank is higher than that of ICICI Bank, the country's largest private sector lender.

Kotak Bank shares have risen almost 20 per cent over the past six months.

On a standalone basis, the lender reported a stable asset quality for the quarter ended June 30, with the percentage of gross non-performing assets to gross advances coming in at 2.58 per cent.

Meanwhile, the broader markets closed with marginal gains. The Sensex ended with gains of only 32.67 points at 31846.89, while the Nifty was up 9.05 points at 9988.75.