More Stories

Informist, Friday, Sept. 4, 2026

 

MUMBAI – The Nifty Bank index is likely to see some relief next week as expectations of a near-term US Federal Reserve interest rate hike ease and global bond yields soften, though gains could remain capped by elevated crude oil prices and continued military hostilities in West Asia, according to Siddhartha Khemka, head of research, wealth management at Motilal Oswal Financial Services.

 

The Nifty Bank ended the week at 57,369.65, down 0.2%, with immediate resistance at 57,809.70 and support at 57,104.50. Market participants are likely to track global interest rate expectations and domestic liquidity closely. Brent crude oil near $95 a barrel remains a key risk for equities, while developments in the war in West Asia could influence risk appetite. The US employment data released Friday will also be important for determining the Fed's policy outlook.

 

For banks, the impact of the recent surge in foreign currency non-resident (banks) deposits is expected to remain limited on margins, given regulatory benefits and the potential deployment of these funds. FCNR(B) deposits have crossed $127 billion under the Reserve Bank of India's special concessional window, while total inflows, including offshore foreign currency bonds and external commercial borrowings, have reached $136.4 billion.

 

Among Nifty Bank constituents, IDFC FIRST Bank was the top gainer in the week, up 4.3%, followed by IndusInd Bank at 1.5% and Punjab National Bank at 1.4%. State Bank of India was the top loser, down 3%, followed by Canara Bank at 2.2% and Bank of Baroda at 1.2%.

 

The key domestic and global triggers for the coming week include the US services PMI, the European Central Bank's monetary policy decision, the OPEC monthly oil market report and India's foreign exchange reserves.

 

TOP HEADLINES

* HDFC Bank CEO not seeking reappointment introduces transition risk - Moody's

* Credit growth to farm, services, industry doubles on year Jul-end - RBI data

* Banks' loan growth slows from 26-mo high, falls to 18.3% YoY as on Aug 15

* Weighted average lending rate on new bank loans rises 1 bp MoM to 8.97% July

* ICICI Bank buys another 2% stake in arm ICICI Pru Life for INR 14.70 bln

* ICICI Bank mobilised FCNR deposits worth $17.88 bln under swap facility

* RBL Bank gets show cause notice for INR 1.64 bln GST demand

* RBL Bank to meet Mon to consider setting up Euro medium-term note programme

* RBL Bank mobilised $3.40 bln till Aug 31 via FCNR(B) deposits

* IDFC FIRST Bank mobilises $3.57 bln through special FCNR swap window

* Canara Bank to sell 70% stake in subsidiary Canbank Factors for INR 805 mln

* Canara Bank board approves raising up to $2 bln via foreign currency bonds

* RBI Murmu calls for stronger cyber defences, stress testing at NBFCs

* NBFCs confident RBI will make revolving credit norms industry-friendly

* Ujjivan Small Fin MD Nautiyal resigns for health reasons, Furtado acting MD

* Bank of Maharashtra cuts some MCLR rates, hikes for 3-month tenor

* Punjab National Bank to raise MCLR for 3-mo loans by 5 bps from Tue

* Bank of India keeps MCLR unchanged across tenures

 

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	1065.00	(-)1.10	1080.20	1052.80
Axis Bank	1273.00	0.60	1290.60	1253.20
Bank of Baroda	239.00	(-)1.20	243.50	236.80
Canara Bank	125.50	(-)2.20	127.90	124.30
Federal Bank	343.00	(-)0.40	346.30	340.10
HDFC Bank	712.10	(-)1.10	720.50	704.20
ICICI Bank	1423.20	0.00	1444.50	1410.70
IDFC FIRST Bank	86.71	4.30	88.50	85.60
IndusInd Bank	1008.50	1.50	1015.60	994.40
Kotak Mahindra Bank	424.50	0.20	428.30	419.70
Punjab National Bank	117.00	1.40	118.80	115.60
State Bank of India	1016.10	(-)3.00	1033.60	1007.40
Index	Levels
Nifty Bank	57369.65	(-)0.20	57809.70	57104.50
Nifty 50	23897.70	(-)1.20	24043.00	23823.20
S&P BSE Sensex	76515.43	(-)1.00	77005.70	76270.30

 

End

 

US$1 = INR 94.48

 

Reported by Kabir Sharma

Edited by Shubhayan Bhattacharya

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.