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Informist, Friday, Mar. 20, 2026

By Vaishali Tyagi

NEW DELHI – The Nifty Bank index is likely to stay under pressure next week, with sentiment fragile due to uncertain global cues amid geopolitical tensions in West Asia, analysts said.  

"The near-term outlook remains cautious, with pressure from elevated crude oil prices and ongoing geopolitical tensions in West Asia. Sentiment continues to be weighed down by persistent foreign investor selling, with FIIs (Foreign institutional investors) recording outflows, reflecting sustained risk aversion," Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services, said in a note. "The overall market outlook remains cautious, with upside likely to be constrained in the near term."

The Nifty Bank index Friday settled at 53427.05 points, down 0.6% on week. In comparison, the benchmark Nifty 50 fell 0.2% this week. HDFC Bank was the worst hit this week, falling over 4.5%, while AU Small Finance Bank was the top performer, rising nearly 1.9%. 

Shares of HDFC Bank will remain in focus in near term as director and part-time chairman Atanu Chakraborty resigned Thursday from his position, saying "certain happenings and practices" in the bank over the last two years were not in congruence with his personal values and ethics. Brokerage firms expect shares of HDFC Bank to move in a range in the near term and even face selling pressure due to uncertainty around the top management. Investor trust has been hit after the sudden exit of Atanu Chakraborty, the bank's part-time chairman. Keki Mistry has been brought in to replace Chakraborty for three months, but Mistry Thursday clarified that he was not keen on continuing in the role beyond three months.

On Friday, the Nifty 50 managed a modest recovery, closing at 23114.50, up 112.35 points, after the sharp decline in previous session. However, overall sentiment was cautious and the market breadth mixed, indicating selective participation. The recovery was limited by continued weakness in the Indian rupee, which breached the 93 mark to hit a record low of 93.71 against the US dollar.

"The depreciation was driven by high dollar demand, sustained FII outflows and broader global currency pressures. Elevated crude oil prices, holding above $100 per barrel, continued to raise concerns around inflation and India's trade deficit, while geopolitical tensions in West Asia added to the uncertainty," Khemka said. "Despite a positive start, the underlying tone remained fragile, with macro headwinds continuing to influence market direction.

In its technical view, Bajaj Broking said, "Sustained move below Thursday's low of 53,240 could trigger further downside, with potential targets at 52500 and 51800 in the coming sessions. These levels correspond to the 61.8% Fibonacci retracement of the rally from the January 2025 lows and coincide with the low of the breakout candle formed in April 2025."

TOP HEADLINES

* Analysts see HDFC Bank shares move in a range due to uncertainty about mgmt
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* IPO Alert: SBI's AMC SBI Funds Management files DRHP for OFS of 204 mln shrs
* SPOTLIGHT: Chairman's resignation raises governance concerns at HDFC Bank
* SC says payment of interest does not negate depositor's status as consumer
* Tata Investment Corp appoints Bahram N. Vakil as vice chairman from Fri
* Market valuation of IBC resolved cos increased INR 6.2 trln in 5 yrs - Study
* HDFC Bank's Keki Mistry not keen on being chairman beyond 3 months
* ICICI Bank gets tax demand of INR 3.84 bln from Maharashtra GST dept
* CNBC-TV18: Sources say HDFC Bank board to seek extension for CEO Jagdishan
* Banking secy says HDFC Bk strong institution with strong fincl fundamentals
* RBI says HDFC Bk well-capitalised, will continue to engage with bank's board
* Analyst Concall: Unaware of exact issues cited by Chakraborty - HDFC Bank
* PRESS: Atanu Chakraborty's exit from HDFC Bk not based on governance issues
* Atanu Chakraborty quits HDFC Bk, says bk practices don't align with his values
* Tamilnad Mercantile Bank gets INR-2.04-bln demand notice from tax department
* RBI OKs Bain Capital's acquisition of joint control in Manappuram Fin, arms
* Making all efforts to keep cost of borrowing below 8%, says IRFC CMD Dubey
* Axis Bank OKs INR 15 bln infusion into Axis Finance via rights issue by FY27
* Five Star Business approves INR-50-bln limit to raise funds though NCDs
* Crisil, CareEdge assign Indian Bk's proposed INR-50-bln infra bonds AAA rtg
* Angel One board to meet Fri to mull second interim dividend for FY26
* Anand Rathi Wealth gets SEBI nod for new NIFTY Accelerator AIF scheme
* RBI relaxes norms for banks to disclose insurance premium payments to DICGC
* Bandhan Bank says not aware of promoter selling stake in bank
* After shrs fall 16%, IDBI Bk says no word from govt on scrapping divest plan
* Average returns of all mutual fund categories in week ended Mar 13
* Fino Payments Bank says under investigation only by Hyderabad GST body
* Union Bk of India plans to raise up to INR 200 bln via long-term bond issue
* Parliament panel on finance urges govt to aid regional rural banks with IPOs
* RComm resolution officer files review plea in SC in telecom spectrum IBC case
* Fino Payments Bank total deposit balance at around INR 29 bln as of Fri
* IDBI Bk privatisation junked as fincl bids below reserve price - Govt source
* Bank of Baroda sets up PD 'BOB Securities & Giltedge'; to infuse INR 20 bln
* RBI fines Manappuram Finance INR 270,000 for breach of compensation norms
* ICRA assigns 'AAA' rating to Union Bank's infra bonds worth INR 100 bln

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

End

US$1 = INR 93.71

Edited by Akul Nishant Akhoury 

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