Banking shares extended a sharp selloff on Wednesday, dragging the Nifty Bank index below 54,000 for the first time since early June and deepening a two-day decline of nearly 1,800 points. The rout reflects rising anxiety that the Reserve Bank of India may stay tighter for longer, while a climb in bond yields is pressuring valuations across rate-sensitive financial stocks.
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"Nifty Bank Slumps 1,800 Points in Two Sessions, Breaks Below 54,000 as Rate-Hike Fears Hit Financials"
Banking shares extended a sharp selloff on Wednesday, dragging the Nifty Bank index below 54,000 for the first time since early June and deepening a two-day decline of nearly 1,800 points. The rout reflects rising anxiety that the Reserve Bank of India may stay tighter for longer, while a climb in bond yields is pressuring valuations across rate-sensitive financial stocks.
Nifty Bank Slumps 1,800 Points in Two Sessions, Breaks Below 54,000 as Rate-Hike Fears Hit Financials
R
RDU Global Wire
BFSI & Fintech Desk
New Delhi, India Just now (11:03 AM IST)•5 min read
Banking shares extended a sharp selloff on Wednesday, dragging the Nifty Bank index below 54,000 for the first time since early June and deepening a two-day decline of nearly 1,800 points. The rout reflects rising anxiety that the Reserve Bank of India may stay tighter for longer, while a climb in bond yields is pressuring valuations across rate-sensitive financial stocks.
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