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Informist, Friday, Sept. 5, 2025

MUMBAI – The Nifty Bank is expected to remain range-bound next week and consolidate around the current level amidst persistent selling by foreign institutional investors, analysts said. However, the rationalisation of goods and services tax, which is expected to boost automobile and consumption loans, may support the market, they said.

The sectoral index rose 0.9% during the week and closed at 54114.55 points Friday, with most of its constituents ending in positive territory. Axis Bank and IDFC FIRST Bank led the gains Friday, rising 0.5% each.

The GST Council, at its 56th meeting Wednesday, decided to cut the tax on air conditioners, television sets, and dishwashing machines to 18% from 28%, which is expected sales of these consumer durables, in turn boosting demand for consumption loans. Likewise, the reduction in GST on small cars and motorcycles with engine capacity at or below 350 cubic centimetres to 18% from 28% is expected to support demand for vehicle loans.

"In the near term, the index is expected to remain range-bound between 53,500 and 55,000 (points), suggesting a consolidation phase before any directional breakout. On the upside, the 54,800–55,000 zone remains a significant supply zone... on the downside, immediate support is placed at 53,500–53,300 (points)," Bajaj Broking Research said in a note. 

TOP HEADLINES

* SPOTLIGHT: GST revamp fails to trigger revisions in FY26 earnings estimates

* PRESS: IndusInd Bank's new CEO Rajiv Anand seeks to cut risks on loan book

* Small fin banks may see above-industry growth FY26, says CareEdge Ratings

* Data Alert: Bank loans up 10% on year as of Aug 22, deposits up 10.2%

* No tweak in FY26 loan growth view even as GST changes may spur demand: SBI MD

* UCO Bank gets RBI's approval to set up IFSC banking unit in GIFT City

* Bks' deposit growth unlikely to accelerate medium-term, says Kotak Equities

* Complying to insider trading norms moral responsibility of banks, says SEBI

* SBI raises $500 mln through 5-year bonds at a coupon of 4.5%

* CCI OKs Sumitomo Mitsui Banking Corp's proposal to buy stake in YES Bank

* Fund infra, MSMEs more as govt plans next gen reforms, Sitharaman tells bks

* Fitch assigns 'BBB' rtg to SBI London branch's senior bonds; outlook stable

* S&P assigns BBB rtg to SBI London branch's proposed dollar-denominated bonds

* RBI OKs re-appointment of RS Gandhi as YES Bk part-time chairman till May'27

* RBI OKs appointment of Paritosh Kashyap on Kotak Mahindra Bank's board

* IndusInd Bank appoints Pragati Gondhalekar as head of internal audit

* PNB appoints Raman Grover as CFO

* Short-Term Debt: Canara Bank raises INR 20 bln via 6-month CD at 6.08%

* Weighted avg rate on new bank loans rises 18 bps on month to 8.80% in July

* Bond Club: Axis Bk tops corp bond arranger charts for sixth mo in row in Jul

* RBI imposes fine of INR 4.47 mln on Bandhan Bank for non-compliance of norms

* RBL Bank to raise up to INR 65 bln via QIP, debt

* Federal Bank appoints Venkatraman Venkateswaran as executive director

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

End

Reported by Kabir Sharma

Edited by Rajeev Pai

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