The Bank Nifty extend deadline theme played out again in Monday’s session as the banking index slipped for the second consecutive day, snapping the momentum built during the earlier four-day rally. Selling pressure returned quietly, led by PSU bank stocks, while a few large private lenders showed resilience and limited the downside.
The mood on Dalal Street remained cautious as traders digested profit booking across banking counters.
Market Performance: Bank Nifty Under Pressure
By 2:05 PM, the Nifty Bank index was trading 0.65% lower at 59,499.40, extending its losing streak. The decline was more pronounced in public sector banks, which weighed heavily on overall sentiment.
Meanwhile, the Nifty PSU Bank index fell 1.4% to 8,860.05, pointing to broad-based selling across government-owned lenders.
Short selling and stock-specific pressure kept the index on the back foot through most of the session.
Main News: PSU Banks Lead the Fall
The downside was driven largely by PSU and select private sector banks, with several stocks seeing steep intraday cuts.
Top Losers on Bank Nifty
- Yes Bank fell over 4% to ₹21.78
- IndusInd Bank dropped more than 4% to ₹907.15
- Federal Bank declined over 3%
Other banking names also stayed under pressure:
- AU Small Finance Bank
- Canara Bank
- Punjab National Bank (PNB)
- Bank of Baroda
→ Each slipped more than 2%
Moderate losses were seen in:
- IDFC First Bank
- Union Bank of India
→ Down over 1%
Meanwhile, Axis Bank and ICICI Bank traded marginally lower, adding to the overall drag.
Company Details: Heavyweights Offer Support
Not all banking stocks followed the downward trend. A few heavyweight names provided stability and helped prevent a sharper fall in the index.
Stocks Trading in the Green
These stocks posted marginal gains, offering some balance in an otherwise weak session for the banking space.
Summary: Bank Nifty Extend Deadline Keeps Traders Cautious
To sum it up, the Bank Nifty extend deadline narrative continued as the index declined for the second straight session after its recent rally. The pressure came mainly from PSU banks and select mid-sized lenders, while private banking heavyweights showed limited strength.
With the Nifty Bank at 59,499.40 and the PSU Bank index at 8,860.05, the session highlighted a clear divergence within the banking pack—sharp selling in some names, quiet support from others.
For now, the banking index remains in a wait-and-watch zone as market participants track stock-specific moves rather than broad-based momentum.
Source: Moneycontrol
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