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Informist, Friday, Aug. 21, 2026

 

By Kabir Sharma

 

MUMBAI – The Nifty Bank index is expected to remain steady next week despite geopolitical headwinds as the banking sector continues to benefit from robust credit growth and value buying in key financial heavyweights following recent market corrections, analysts said. The index outperformed the benchmarks, logging a 0.5% weekly gain to close at 57761.95 points. The banking sector displayed resilience against broader domestic weakness as the flagship Nifty 50 and S&P BSE Sensex posted a weekly fall of 0.5% and 0.6%, respectively. Market analysts point to immediate support for the Nifty Bank at 57381.10, with key resistance positioned at 57962.90 points.

 

Performance across the index was sharply divided, as private-sector lenders and select private-sector financial institutions surged while major public-sector banks weighed on total gains. Kotak Mahindra Bank emerged as the week's top performer, advancing 3% to close at INR 402.80. It was closely followed by Federal Bank, which rose 2.8%. AU Small Finance Bank also put up a strong rally, gaining 2.4%, while Axis Bank climbed 2.3%. 

 

On the flip side, major state-owned and select private-sector lenders led the decline, with State Bank of India suffering the heaviest drop of 1.8% to finish the week at INR 1,048.70. IndusInd Bank also slid 1.5%. Other notable laggards included Punjab National Bank, which slipped 1.2%, and Canara Bank, which fell 1%.

 

While domestic liquidity tightening and global macroeconomic pressures present persistent headwinds, market sentiment in financial stocks remains anchored by value buying following recent corrections, analysts said. "The elevated global bond yields continue to cause worry in the market," Vinod Nair, head of research at Geojit Investments Ltd., said in a note. "The recent US Treasury move to ease the bond yields failed to provide lasting comfort, given surging crude (oil) prices and persistent inflation fears... However, strong value buying in financial heavyweights fuelled by robust credit growth and attractive valuations after the recent correction is helping the market trade flat," he said.

 

TOP HEADLINES

* HDFC Bank raises $1.75 bln via dollar notes through GIFT City branch

* Fitch assigns 'BBB-' expected rating on Union Bank's senior unsecured notes

* ICICI Bank revises fundraising limit to $5 bln via overseas debt

* Karur Vysya Bank hikes MCLR by 5-25 bps across tenures effective Sat

* Customer-centric business processes key to better FX pricing - RBI Jain

* S&P assigns 'BBB' rating to Kotak Mahindra Bank's $650-mln senior dlr notes

* HDFC Bank's dollar notes rated  'BBB' by S&P, 'Baa3' by Moody's

* UCO Bank board to mull fund-raising on Monday

* RBI allows LIC to acquire up to 9.99% stake in HDFC Bank

* IDFC FIRST Bank prices $100 mln, 3-yr dlr notes to upsize $500-mln fundraise

* PNB plans to raise $1 bln via 3- or 5-yr dollar notes in Sept, say officials

* UCO Bank to Mon mull raising foreign currency funds via medium term notes

* Karnataka Bk empanelled as arranger, collector for HUDCO capital gain bonds

* Indian Overseas Bank raised $100 mln via 3-year dollar bond, says source

* Indian Bank raises $400 mln via 4-year dollar notes Tuesday

* PSU banks eye co-branded cards, technology to gain credit card business

* ICICI Bank's $750-mln senior notes rated 'Baa3' by Moody's, 'BBB' by S&P

* Sitharaman asks PSU banks to be more "cool" to attract young customers

* PSUs must focus on improving priority sector lending, says Sitharaman

* Sitharaman says PSU banks must develop distinct areas of excellence

* Bank of Maharashtra plans to raise $1.5 bln via FCNR deposits, says source

* Fitch assigns 'BBB-' rating on Bank of Baroda's $700 mln 2029, 2031 notes

* Govt to soon announce high-level committee for Viksit Bharat-ready banks

* S&P Global assigns BBB to Kotak Bk's $1-bln euro medium-term note programme

* India Ratings ups Yes Bank's tier-2, infra bonds rating to 'AA+' from 'AA-'

* Bank of India appoints Vineet Srivastava as CFO effective Friday

 

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	1,108.20	2.40	1,124.40	1,075.80
Axis Bank	1,245.80	2.30	1,263.50	1,231.50
Bank of Baroda	247.00	(-)0.50	249.30	242.30
Canara Bank	129.96	(-)1.00	130.90	128.00
Federal Bank	361.00	2.80	364.90	353.20
HDFC Bank	726.95	(-)0.00	735.00	722.60
ICICI Bank	1,420.00	0.20	1,425.90	1,408.30
IDFC FIRST Bank	86.75	1.20	87.50	85.20
IndusInd Bank	1,005.60	(-)1.50	1,014.30	992.70
Kotak Mahindra Bank	402.80	3.00	410.10	394.70
Punjab National Bank	116.55	(-)1.20	118.60	114.40
State Bank of India	1,048.70	(-)1.80	1,062.40	1,033.20
Index	Level
Nifty Bank	57761.95	0.50	57962.90	57381.10
Nifty 50	24252.00	(-)0.50	24324.90	24170.40
S&P BSE Sensex	77540.83	(-)0.60	77850.60	77291.00

 

End

 

US$1 = INR 95.6950

 

Edited by Rajeev Pai

 

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