Kotak Mahindra Bank, Axis Bank, and HDFC Bank rose over 1% each while Bank of Baroda, PNB, SBI, and Bandhan Bank saw selling pressure. Bouncing back, Nifty Bank rose 185 points to close at 46,785
Indian stock market closed lower on Tuesday with Sensex at 72,470 and Nifty at 22,005. Financials and IT sectors dragged down major indices, while RVNL surged post MoU with AAI for Kolkata project.
PNB, Axis Bank, IndusInd Bank, and Federal Bank were the top gainers. The Nifty Bank found some resistance around the 20-DMA on the daily chart. A close below 46,406, which is also the 50-DMA, could trigger a fresh round of selling.