Bank Nifty plunges 550 pts from day's high; AU SFB, Kotak Mahindra Bank among top losers: What lies ahead?

Bank Nifty plunges 574 pts from day's high; AU SFB, Kotak Mahindra Bank among top losers: What lies ahead?

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26 Aug, 2025 12:21

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Bank Nifty index fell 574 points from day's high on May 14 and was trading in mild red. This extends the index's losses to second day, after a massive 3.3% rally on May 12. Bank Nifty fell 0.8% on May 13.

At 2:15 pm on May 14, Bank Nifty was trading 298 points lower at 54,642.50. Its day's high was 55,208, but profit booking reigned and the index fell 574 points from that level. The 52-week high of the index is 56,098 and 52-week low is 46,077.

Among top losers of the index are AU Small Finance Bank, which fell 1.44% while Kotak Mahindra Bank fell 1%.

Heavyweights HDFC Bank and ICICI Bank shares meanwhile fell 0.8%, contributing to the downturn in the index.

State Bank of India (SBI), Bank of Baroda and Punjab National Bank (PNB) shares were meanwhile trading with marginal losses, less than 0.5%.

Few stocks however bucked the trend to trade in the green. Canara Bank, IDFC First Bank, Axis Bank and IndusInd Bank shares were trading with marginal gains.

A technical report said Bank Nifty could correct up to 54,100 if it trades below the 55,110 level.
"The daily chart shows a bearish candle with an upper shadow, reflecting resistance at higher levels. The trend-deciding level for the day is 55110. If Bank Nifty trades above this level, it may rally up to 55,331-55,721-55,942 levels. However, if it trades below 55,110 levels, we may witness profit booking in the market, and the index may correct up to 54,720-54,499-54,109 levels," said Axis Securities in its Daily Technical Outlook.

"For the Bank-Nifty, we may see some buying interest between 54700 and 54500. A close above 54500 would be negative," said Shrikant Chouhan, Head of Equity Research at Kotak Securities.

Also read: IndusInd Bank’s ex-MD and ex-Dy CEO may face board penalty for insider trading, say sources

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.