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Informist, Thursday, Jun. 25, 2026

 

NEW DELHI – The Nifty Bank is seen rising in the coming week, though the trajectory may be slower after the index rose for four straight weeks. Market activity this week showed strong profit-taking activity in banking stocks, which may persist until further positives come into the market. However, the downside in the index is limited as credit quality will remain robust and the Reserve Bank of India's measures are expected to pull down the cost of funds. 

 

"The 58,700 level remains the key hurdle to watch, and a decisive breakout above this zone could pave the way for a move towards 59,000," Om Mehra, technical research analyst at SAMCO Securities, said in a note. "Until then, 57,500 is expected to provide support on any decline."

 

The Nifty Bank index Thursday settled at 58177.05 points, up 0.9% on week, its highest weekly closing in four months. India's financial markets are shut Friday for Muharram. The benchmark Nifty index rose only 0.2% this week. Private-sector lenders HDFC Bank, Kotak Mahindra Bank, and ICICI Bank led the rise in the banking sector, up 2.1-3.0%. Canara Bank was the worst-hit stock, down 3.6% on week, while IndusInd Bank also fell prey to profit taking and was down 3.0%.

 

Private-sector lenders may remain in favour in the coming week, according to some analysts. "Financial Services and Private Banks are likely to remain in focus after the RBI increased the large exposure limit for Infrastructure Finance Companies to 45% from 35% of capital base, providing greater flexibility to finance large infrastructure projects," Siddhartha Khemka, head of research, wealth management, at Motilal Oswal Financial Services Ltd., said in a note.

 

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. The RBI this week said banks and their overseas branches are allowed to lend against FCNR(B) deposits, clarifying a grey area. Deposits are expected to be ramped up next week, helping to pull down banks' cost of funding as the gap between credit and deposit growth closes.

 

The regulator 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 over the next few quarters, analysts have said.

TOP HEADLINES
* ICICI Bank gets RBI nod to buy up to 2% more stake in arm ICICI Pru Life
* RBI OKs compensation mechanism for small-value digital fraud in new norms
* Short-Term Debt: Union Bank of India to raise INR 50 bln via 2 CD Wed
* Equitas Small Fin Bk to raise up to INR 17.5 bln, appoints Barsagade as CFO
* S&P assigns 'BB-' rating to Axis Bank's AT1 notes, 'BBB' to its senior notes
* Union Bank raises 3- to 5-yr FCNR(B) deposit rates to 6.10-6.60% from Tue
* Axis Bank prices AT1, senior notes aggregating $800 million
* City Union Bank to raise INR 5 bln through QIP
* RBI releases FAQs on swap window; banks can lend against FCNR (B) deposits
* S&P Ratings assigns 'BBB' to Bk of Baroda's proposed senior unsecured notes
* Data Alert:5 bks up 3- to 5-yr FCNR(B) deposit rates for 2nd time since Jun 8
* Govt gives Rajendra Kumar Saboo additional charge of UCO Bank MD till Aug
* RBI exempts new NRE deposits of 3 years or more from CRR, SLR till Sept 30
* RBI fines Can Fin Homes INR 270,000 for breach of 'Fair Practices Code'
 

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:

 

Company	Price	Week-on-Week Change in %	Resistance	Support
AU Small Finance Bank	1,033.85	0.10	1,096.00	1,000.40
Axis Bank	1,377.20	1.40	1,410.70	1,355.90
Bank of Baroda	279.15	(-)0.70	284.30	275.50
Canara Bank	128.95	(-)3.60	132.40	126.30
Federal Bank	324.05	0.00	328.50	320.40
HDFC Bank	796.30	2.10	808.20	788.80
ICICI Bank	1,387.50	3.00	1,414.40	1,366.60
IDFC FIRST Bank	79.22	0.70	80.70	78.40
IndusInd Bank	918.95	(-)3.00	945.20	902.40
Kotak Mahindra Bank	409.00	2.40	416.60	403.40
Punjab National Bank	107.87	(-)0.80	109.60	106.70
State Bank of India	1,045.40	1.00	1,063.30	1,029.60
Index	Level
Nifty Bank	58177.05	0.90	58927.20	57734.80
Nifty 50	24056.00	0.20	24341.50	23896.30
S&P BSE Sensex	77100.47	0.40	78109.00	76488.90

End

Reported by Aaryan Khanna

Edited by Rajeev Pai

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