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Bank Nifty Plunges Over 2% Amid Crude-Fueled Inflation Fears; ICICI Bank, HDFC Bank Drive Nifty's Fall
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Bank Nifty Plunges Over 2% Amid Crude-Driven Inflation Fears; ICICI, HDFC Bank Hit
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Moneycontrol
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06-03-2026, 15:41
Bank Nifty Plunges Over 2% Amid Crude-Driven Inflation Fears; ICICI, HDFC Bank Hit
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Bank Nifty index fell over 2% as elevated crude oil prices fueled inflation concerns and tighter monetary policy fears.
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ICICI Bank, HDFC Bank, State Bank of India, and Axis Bank were among the top Nifty losers, leading the sectoral decline.
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The Sensex dropped nearly 1,100 points, and Nifty fell 315 points, with market breadth turning weak.
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Analysts link the weakness to persistent geopolitical tensions in the Middle East driving crude prices and reigniting inflationary pressures.
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Crude prices, particularly Brent crude nearing $90-100, are identified as a key variable that could further pressure global equities.
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