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Informist, Friday, Sept. 18, 2026

NEW DELHI – The Nifty Bank is likely to remain rangebound next week, indicating indecisiveness and continued consolidation at current levels, analysts said. The index ended the week at 56,358.70, down 0.4%, underperforming the Nifty 50, which closed down 0.2% week-on-week at 23,346. The Nifty Bank index saw extreme volatility through the week.

There are no immediate fresh triggers coming up for major stocks, and a well-defined technical range leading to limited directional moves, according to analysts. The Nifty Bank will face immediate resistance at 56.733.80 and find support at 55,886.00. The Bank Nifty formed a small bearish candle, signalling selling pressure at higher levels, while on the weekly chart, it formed a small positive candle, indicating constructive undertone, analysts said. 

Market participants are likely to track global interest rate expectations and domestic liquidity closely. Brent crude near $105 a barrel, after rising to over $108 per barrel in the initial days of the week, remains a key risk for equities, while developments in the war in West Asia could influence risk appetite.

"Indian markets have seen relief over the past three sessions, driven by Brent's retreat as progress on Saudi pipeline repairs and alternative export routes eased fears of a prolonged supply disruption," Siddhartha Khemka, head of research, Wealth Management, Motilal Oswal Financial Services Ltd. said. "With the Fed hike now behind us, moderating Treasury yields, crude off its highs and strong domestic liquidity, the market is likely to maintain a cautiously positive bias."

Further, investors will continue to track global monetary policy moves. The hawkish tilt across major central banks, along with persistent inflation concerns due to elevated energy prices, could keep global bond yields and currency markets volatile, according to analysts. Domestically, markets will track September flash PMI, August infrastructure output, foreign exchange reserves and bank credit growth for cues on growth and liquidity. Globally, US industrial production, consumer sentiment and China's Loan Prime Rate decision will provide further cues, Motilal Oswal Financial Services said in a note. 

Of the 14 banks in Nifty Bank index, only four ended with gains. HDFC Bank was the top gainer, rising over 3%, followed by Axis Bank with a 0.9% gain. Punjab National Bank and State Bank of India were the other two gainers. On Saturday, HDFC Bank submitted the names of two candidates for managing director and chief executive officer to the Reserve Bank of India for approval, nearly two weeks after Sashidhar Jagdishan decided to retire after his current term ends. The bank also appointed Jimmy Tata as a whole-time director, designated as executive director, for three years with effect from the date of RBI approval.

Federal Bank was the top loser after emerging as the only gainer last week, falling over 3.4%. YES Bank was the other top loser. YES Bank has moved the Supreme Court against the Delhi High Court's Aug. 31 order directing a forensic audit of banks and financial institutions to investigate transactions between Fortis Healthcare Ltd.'s former promoters Malvinder Singh and Shivinder Singh, their companies, and the Religare Group.

TOP HEADLINES
* Fitch Ratings assigns 'BBB-' rating to Canara Bank's $3-bln MTN programme
* ESAF Small Fin Bk to Wed mull raising funds via NCDs on pvt placement basis
* Union Bank likely to raise INR 30 bln via QIP soon, says fin min official
* Federal Bank approves medium-term note programme of up to $500 mln
* Moody's assigns provisional 'Baa3' rtg to PNB's $1.5-bln MTN programme
* Fitch assigns 'BBB- ' rating to PNB's $1.5 bln medium-term note programme
* Suryoday Small Finance Bank to meet on Mon to mull raising fund via NCDs
* ICRA assigns 'AA' rating to City Union Bank's Tier II bonds worth INR 1 bln
* YES Bank moves SC vs forensic audit in Religare Group, Fortis transactions
* ICRA reaffirms 'B+' rating for IFCI's bank limits, long-term bonds
* Moody's assigns Baa2 rating to RBL Bank's $350 bln notes due Sept 2031
* HDFC Bank submits two names to RBI for MD, CEO; appoints new ED
* Bank of Baroda launches 'bob World 2.0' mobile app with AI-driven features
* RBI tweaks CRR norms for some local area banks in line with commercial banks
* RBI cuts adjusted net bank credit sop for FCNR-linked loans to Aug 31
* Federal Bank board to Thu mull tweak in Aug decision on FX debt raise
* SBI for 50 bps rate hike by RBI in 2026 amid renewed risk from W Asia war

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

Reported by Vaishali Tyagi

Edited by Avishek Dutta

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