Nifty Bank drops 600 pts as IndusInd, PNB shares fall up to 4%; analyst warns index could fall to 53,600

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26 Aug, 2025 12:21

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Bank stocks slipped into deep red on September 26, pulling down the Nifty Bank index down around 600 points (over 1 percent) to 54,389.

The sharp fall in the bank stocks comes amid an overall bearish trend in the stock market, with benchmark indices Sensex and Nifty ending the session nearly 1% lower each.

Top losers on Nifty Bank index:

IndusInd Bank shares dropped nearly 4 percent to trade at Rs 712 apiece. Punjab National Bank (PNB) and Canara Bank shares, meanwhile, fell around 3 percent each. IDFC First Bank and Bank of Baroda shares dropped nearly 2 percent.

Axis Bank, Kotak Mahindra Bank, ICICI Bank and Federal Bank shares fell around 1 percent each, while HDFC Bank and State Bank of India (SBI) shares were down in the red with marginal losses.

Bucking the trend, the shares of AU Small Finance Bank closed in the green with marginal gains.

Is Bank Nifty heading towards 53,600?

PL Capital in its note had said that in case the index fails to sustain in the important 54,800-55,000 support band, it can slip further to the 53,600-zone with bias weakening even more.

As the index closed significantly below the lower limit of the support level suggested by the domestic brokerage, investors should remain cautious about the likelihood of Bank Nifty index dropping further.

Also read: Our LIVE blog on stock market updates

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