Bank Nifty Plunges Over 1% Amid Market Sell-Off; ICICI, Axis Bank Lead Decline
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Moneycontrol•21-01-2026, 12:14
Bank Nifty Plunges Over 1% Amid Market Sell-Off; ICICI, Axis Bank Lead Decline
- •Bank Nifty fell over 1% on Wednesday, January 21, extending declines due to selling pressure in heavyweight private lenders.
- •The index touched an intraday low of 58,278.6, down 1.9% from its day's high, and is 3.6% below its all-time high.
- •ICICI Bank, AU Small Finance Bank, IDFC First Bank, Axis Bank, and HDFC Bank were major contributors to the decline.
- •Broader market weakness persisted, with Sensex down over 1,000 points and Nifty below 25,000, mirroring Tuesday's sharp sell-off.
- •Global cues, US tariff threats, and FII outflows contributed to the risk-off sentiment, with technicals turning cautious for Bank Nifty.
Why It Matters: Bank Nifty crashed over 1% as market sell-off deepened, driven by private bank losses and global concerns.
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