Bank Nifty Dips Amid Mixed Banking Sector Performance
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BTCCSquare news:
Bank Nifty fell 0.54% to 55,429.25 as private lenders dragged the index lower despite gains in public sector banks. HDFC Bank and ICICI Bank led declines, dropping 1.35% and 1.28% respectively, while Canara Bank surged 2.24% as the most actively traded stock by volume.
Technical analysts see potential for recovery, with key resistance at 56,000-56,200 levels. The 61.8% retracement level suggests upside potential despite today's bearish sentiment.
Foreign institutional investors remained net buyers with ₹366 crore in equity purchases, indicating continued institutional interest in Indian financial markets.
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