Key Points
The Nifty Bank fell nearly 500 points to close at 47,761, led by losses in Kotak Bank, ICICI Bank, and IndusInd Bank...
Federal Bank, AU Small Finance Bank, and Kotal Bank closed with losses of over 2% each, while some buying was seen in HDFC Bank...
The Nifty Bank witnessed sustained selling pressure throughout the trading session, which resulted in the formation of a bearish Marubozu candle on the daily charts...
Nifty Bank index formed a Bearish Marubozu candle on a daily scale and started to form lower highs - lower lows from the past three sessions, Chandan Taparia, Senior Vice President and Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.. Index has relatively underperformed the broader market as selective banking stocks remained under selling pressure and ended with losses of around 470 points, he said.. Levels To Track..
"The Bank Nifty witnessed sustained bearish pressure throughout the trading day, leading to a close below the crucial support level of 48,000, said Kunal Shah, Senior Technical and derivative Analyst at LKP Securities...
You might be interested in
Sensex tumbles 1,600 points, Nifty below 21,600; 5 key reasons pulling the stock market down
17, Jan, 24Nifty 50 drops over 2%, Domestic stock market investors were taken by surprise in trade Wednesday as the bull run on Dalal Street came to a halt with Nifty50 registering its biggest losses in a single session in over a year.
Nifty Bank plunges over 1,000 points; experts suggest ‘sell on rise’ strategy
23, Jan, 24The fall in the Nifty Bank index was led by losses in IDFC First Bank, IndusInd Bank, Bank of Baroda, and SBI while some buying was seen in ICICI Bank post Q3 results.
Markets give a thumbs-down to RBI policy, crack 1%
08, Feb, 24The markets were disappointed with no dovish tinge to the policy or cut in cash reserve ratio to ease liquidity in the banking system, analysts said