Bank Stocks Outlook
Under pressure next wk on uncertainty over W Asia war
This story was originally published at 22:14 IST on 27 March 2026
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MUMBAI – The Nifty Bank index is likely to remain under pressure next week, with risk sentiment dampened due to uncertain global cues amid the conflict in West Asia, analysts said. "Indian equities witnessed heightened volatility this week and are likely to trade cautiously in the upcoming truncated week with only three trading sessions. Market sentiment remains sensitive to the mixed signals from the ongoing West Asia conflict," Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services, said in a note.
The Nifty Bank index Friday settled at 52274.60 points, down 2.2% on week. In comparison, the benchmark Nifty 50 fell 1.3% this week. Bank of Baroda was the worst hit this week, falling 7%. On the other hand, Federal Bank was the top performer, rising nearly 1%.
The Nifty 50 is also expected to fall further amid the West Asia conflict and a weakening rupee. The overall market sentiment is negative due to higher crude oil prices and the West Asia war. Foreign institutional investors were net sellers in the market throughout the week on these negative cues.
"Volatility is expected to remain elevated in the near term, driven by rising geopolitical tensions, and rising crude oil prices which continue to weigh on overall market sentiment," Bajaj Broking said in a note. HDFC Bank is expected to remain in focus after its shares fell over 3% this week due to ongoing issues with the bank's management after the resignation of its chairman, analysts said.
In its technical view, Kotak Securities said, "For Bank Nifty, below 53,000, weak sentiment is likely to persist. On the downside, 51,500-51,000 would be immediate support zones, while above 53,000, it could bounce back up to 54,000-54,500."
TOP HEADLINES
* HDFC Bank reappoints Sunita Maheshwari as independent director
* Federal Bank to get tax refund of INR 4.90 billion
* ICRA reaffirms its ratings on Union Bank of India's tier-2, infra bonds, CD
* Fino Payments Bank withdraws proposal to reappoint Rishi Gupta as MD & CEO
* CCI approves MUFG Bank's acquisition of some shares in Shriram Finance
* On track for referral loan disbursement of INR 13 bln FY26: Fino Payments Bk
* PRESS: Kotak Bank files complaint with Panchkula police in INR 1.5 bln scam
* RBI OKs UAE's Avenir Investment to buy controlling stake in Sammaan Capital
* Short-Term Debt: Axis Bank raises INR 35 bln via 3-month CD at 7.60%
* J&K Bank gets GST demand of INR 4 bln from Jammu tax authority
* Nomura cuts NIM estimates across multiple banks for FY27-FY28 by 3-12 bps
* HDFC Bank confirms it removed 3 employees over wrongdoings at Dubai branch
* HDFC Bk appoints law firms to review Atanu Chakraborty's resignation letter
* Short-Term Debt: Union Bank of India raises INR 45 bln via 2 CDs
* RBI appoints Gopi Krishnan as administrator of Irinjalakuda Town Co-op Bank
* Fin min says no proposal under consideration currently to merge PSU banks
* HC upholds Fino Payments Bank CEO, MD Gupta's arrest in tax evasion case
* PRESS: Kotak Mahindra Bank likely to acquire Deutsche Bk's India retail ops
* PRESS:HDFC Bk MD open to be at helm post Oct, seeks probe in ex-chairman exit
* PFC appoints merchant banker for proposed merger with REC, says source
* Govt official says started work on PFC-REC merger, may take 1 yr to complete
* RBI approves merger of Lalbaug Co-op Bk with Surat's Akhand Anand Co-op Bank
* PRESS: HDFC Bank fires 3 senior executives over mis-selling of AT-1 bonds
* Income tax dept asks SBI to pay INR 63 bln after making some disallowances
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:
| Company | Price | Week-on-Week Change in % | Resistance | Support |
| AU Small Finance Bank | 882.75 | (-)2.10 | 920.00 | 858.70 |
| Axis Bank | 1205.20 | 0.10 | 1218.40 | 1195.40 |
| Bank of Baroda | 260.30 | (-)7.00 | 273.90 | 251.60 |
| Canara Bank | 130.45 | (-)4.40 | 136.80 | 126.60 |
| Federal Bank | 269.30 | 0.80 | 274.20 | 262.90 |
| HDFC Bank | 756.20 | (-)3.10 | 782.20 | 741.50 |
| ICICI Bank | 1233.80 | (-)0.90 | 1272.40 | 1210.80 |
| IDFC FIRST Bank | 61.87 | (-)1.70 | 63.70 | 60.50 |
| IndusInd Bank | 792.55 | (-)3.20 | 828.90 | 767.10 |
| Kotak Mahindra Bank | 366.15 | (-)0.20 | 372.20 | 359.50 |
| Punjab National Bank | 105.13 | (-)5.70 | 110.80 | 101.80 |
| State Bank of India | 1019.50 | (-)3.60 | 1071.60 | 987.00 |
| Index | Levels | |||
| Nifty Bank | 52274.60 | (-)2.20 | 53674.10 | 51511.50 |
| Nifty 50 | 22819.60 | (-)1.30 | 23318.30 | 22555.20 |
| S&P BSE Sensex | 73583.22 | (-)1.30 | 75378.00 | 72637.00 |
End
Reported by Kabir Sharma
Edited by Ashish Shirke
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