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Informist, Friday, Jun 19, 2026

NEW DELHI - Nifty Bank is seen going from strength to strength next week after a technical breakout, with fundamentals also supporting healthier earnings growth from banks. The Reserve Bank of India's continued measures for foreign exchange deposits and concessions on the same may increase margins for some lenders.

"The breakout above this key resistance level (57804 points) indicates strengthening momentum and renewed buying interest, improving the near-term technical outlook (on the Nifty Bank Index)," Axis Securities said in a note. "Further supporting the bullish view, the daily RSI (relative strength index) continues to hold above its reference line, reflecting sustained positive momentum and validating the strength of the ongoing price action."

The Nifty Bank index Friday settled at 57685.75 points, up 1.5% on week, its highest weekly closing since March. Some profit taking at the end of the week dulled the index's sheen compared with the benchmark. The Nifty 50 index rose 1.7% this week, in line with major global indices after the US and Iran signed a memorandum of understanding that is seen ending hostilities in West Asia and rebuilding supply chains, including the opening of the crucial Strait of Hormuz.

Private-sector lenders IndusInd Bank and IDFC FIRST Bank were the biggest gainers this week, up 3.3% and 2.9%, respectively. Public-sector heavyweight State Bank of India also gained 1.8%, while Bank of Baroda was up 2.3% due to the broad-based rise in stock prices this week as global tensions cooled. Kotak Mahindra Bank was the sole loser on the index this week, down 1.0%. The expected rise among bank may be buffeted by some profit taking, analysts said. 

"Some consolidation after 5000 points up move in just 13 sessions cannot be ruled out in the Bank Nifty," Bajaj Broking Research said in a note. "However, we believe the overall structure is positive, and any dips should be used to accumulate quality banking stocks in a staggered manner."

Close attention will be on the pace and size of foreign currency non-resident bank deposits that banks are able to attract over the next three months, analysts said. Deposits have been lagging credit growth for several years now, leading to an increase in borrowing and funding costs. In addition to the measures announced last week, the Reserve Bank of India Wednesday removed the cap on interest rates on FCNR (B) deposits in 3-5 year tenures and Non-Resident (External) deposits of over three years.

It has also removed these deposits from the calculation of cash reserve ratio and statutory liquidity ratio, which would have otherwise tied up 21% of the inflows into emergency buffers. This is likely to allow banks to push higher credit growth into the economy, especially as the quarter-end approaches on Jun. 30, analysts have said. 

TOP HEADLINES
* South Indian Bank ups 4-5 year FCNR(B) rates again by 50-100 bps to 6.50%
* Supervisory Data Quality Index score for scheduled commercial bks down in Mar
* PNB raises 3- to 5-yr FCNR(B) deposit rates by 40 bps to 6.40-6.50% from Thu
* Crisil gets favourable order in litigation on tax deduction at source
* Data Alert: Banks raise 3- to 5-year FCNR(B) deposit rates by up to 487 bps
* BSE arm Indian Clearing Corp changes name to BSE Clearing
* No first charge to EPFO on partner property if not part of firm assets- HC
* Rajesh Laheri takes over as General Insurance Corp CFO Thu
* India gold rate eases as of mid-Jun on tepid demand; jeweller discounts ebb
* SBI board approves raising up to INR 600 bln via rupee, FX debt in FY27
* Manappuram Fin board to meet Tue to mull FY27 fundraising via debt
* RBI approves extension of Mistry as HDFC Bank interim chairman till Sept 18
* Bank of India launches Super Yield FCNR(B) deposit scheme
* Punjab & Sind Bank raises 3- to 5-year FCNR(B) deposit rates to 6.70-6.80%
* Short-Term Debt: Federal Bank to raise INR 12.5 bln through 3 CDs Thu
* RBL Bank Oks allotment of 929 mln shrs to Emirates NBD Bk for INR 260.16 bln
* ICICI Pru MF cuts stake in Kalpataru Projects International by over 2%
* HUDCO to give fincl assistance up to INR 1 tln for infra projects in Gujarat
* NSE arm NSE Indices launches two new thematic indices
* Utkarsh Small Fin Bank board to Sat mull raising up to INR 5 bln via NCDs
* CareEdge Global assigns 'BBB+' foreign currency rating to Bank of Baroda
* SEBI cancels registration of AIF ESG Impact Fund for failure to file reports
* Short-Term Debt: PNB to raise about INR 30 bln via 3-month CDs at 6.60% Wed
* NCLT admits Union Bank of India's insolvency plea against Future Brands
* HDFC Bank completes issuance of $750 mln senior unsecured bonds Tue
* HC says bks should strictly follow RBI norms when dealing with public money
* Bank of Baroda hikes 3-5 yr FCNR(B) deposit rates for 2nd time in a week
* SEBI issues directions on retaining proceeds by AIFs, inoperative status
* City Union Bank board to meet Jun 23 to mull raising capital
* Govt appoints Hitesh Rameshchandra Joshi as CMD of General Insurance Corp
* CCI allows two Kedaara Capital funds to buy stake in Axis Finance
* Govt exercises greenshoe option in GIC OFS to sell further 3% stake in co
* TV: Former RBI dy governor Rao shortlisted for HDFC Bank chairman's post
* Global gold ETFs witness $3.42-bln net withdrawals in week to Jun 12 - WGC
* HDFC Life Insurance allots shares worth INR 10 billion to HDFC Bank
* J&K Bank raises 3- to 5-year FCNR(B) deposit rates to 6.00-6.25%
* ESAF Small Fin Bk raises 3- to 5-year FCNR (B) deposit rates by 300-313 bps
* IDFC FIRST Bank to up 3-yr to 5-yr FCNR(B) deposit rates to 6.75% from Tue
* IRDAI proposes amendments to registration, capital, amalgamation norms
* Govt to sell up to 5% stake in GIC Tue-Wed; floor price at INR 352/shr
* Dhanlaxmi Bank appoints Krishnakumar K as CFO for 3 years
* Bandhan Bank approves proposal to sell identified NPAs worth INR 3.04 bln
* IBBI issues guidelines for conducting valuation of debt-ridden companies
* SBI board to meet Thu to mull FY27 fundraising via debt
* Top, worst performing schemes in MF categories in week ended Jun 12
* Average returns of all mutual fund categories in week ended Jun 12
* Assets under management of top 10 equity funds as on May 31
* Assets under management of top 10 debt funds as on May 31
* NCLT OKs merging Sammaan Finserve's NBFC business into Sammaan Capital
* Ujjivan Small Fin Bank raises 3- to 5-year FCNR(B) deposit rates to 7.13%
* RBL Bank raises 3- to 5-year FCNR(B) deposit rates to 6.25-6.35% from Fri
* IIFL Finance arm IIFL Fintech completes Xtracap Fintech acquisition
* MCX incorporates MCX Coal Exchange as wholly-owned subsidiary
* Data Alert: Banks raise 3- to 5-year FCNR(B) deposit rates by upto 487 bps
* Bond issuances surge as corp bond yields ease amid RBI steps to boost inflows
* RBL Bank appoints HDFC Bank veteran Bhavin Lakhpatwala as CFO
* IRFC eyeing up to $1 bln via 5-yr dollar denominated bonds in Jun - official
* RBI approves Pushan Mahapatra's appointment as DCB Bank's part-time chairman
* RBI fines IIFL Samasta Finance, True Credits for breach of KYC norms
* IndusInd Bk to up 3- to 5-year FCNR(B) deposit rates to 6.60-6.75% from Mon
* South Indian Bank raises 3- to 5-year FCNR(B) deposit rates to 5.50-6.50%

Following are the resistance and support levels for the sector's key stocks for next week, as per calculations based on their prices on the National Stock Exchange:

End

Reported by Aaryan Khanna

Edited by Akul Nishant Akhoury

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