Banking Stocks Today: Banking stocks witnessed sharp selling pressure on Monday after major private and public sector lenders announced their Q1 FY27 results over the weekend. The Nifty Bank index tumbled over 923 points in early trade, dragged by steep declines in Axis Bank, HDFC Bank, Yes Bank and Kotak Mahindra Bank, as investors reacted to earnings and management commentary.
However, select PSU banks bucked the broader weakness, with Punjab National Bank (PNB), Union Bank of India, Canara Bank, SBI and Bank of Baroda trading higher, reflecting continued investor preference for lenders with improving asset quality and stronger earnings momentum. ICICI Bank, too, traded in the green.
The Nifty Bank index fell 883.15 points, or 1.51 per cent, to 57,638.25 in early trade (as of 9:30 AM) on Monday. The index opened at 57,738.25 against its previous close of 58,521.40 and touched an intraday low of 57,597.55 and a high of 57,963.55.
