Nifty Bank -; Financial Services at a bearish tone amidst selloff in broader markets; SBI twins, IndusInd, HDFC Life weigh

22 Feb 2022 , 03:15 PM

Nifty Bank & Financial Services remained under pressure as the domestic equity market tumbles owing to the rising conflicts between Russia and Ukraine. The index remained in sync with the overall slump in broader markets as elevated oil prices left investors muddled.

Heavyweights SBI (-2.70%), IndusInd Bank (-0.75%), IDFC First Bank (-1.48%), Bandhan Bank (-1.96%), and Axis Bank (-1.07%) remained the top laggards. Whereas, HDFC Bank (-0.29%), AU Bank (-0.28%), Federal bank (-0.20%), and RBL Bank (-0.18%) struggled to maintain previous positions with marginal downfalls.

Kotak Bank (+1.03%) and ICICI Bank (+0.35%) uplift the chart, whilst Kotak Bank remained the top gainer.

At around 3.15 PM, Nifty Bank was trading at 37,521.45 points against its previous closing of 37,685.60 points, down by 0.44%. It touched the day’s high and low of 37,659.40 and 36,818.10 points respectively.

On the financial services index, Cholamandlam Investment and Finance Company (+2.33%), Muthoot Finance (+2.05%), Bajaj Finserv (+0.99%) led the chart on the back of marginal gains in Kotak Bank (+0.87%), ICICI General Insurance (+0.75%), HDFC AMC (+0.69%), HDFC (+0.73%) and Bajaj Finance (0.06%).

SBIN (-2.71%), SBI Life (-2.60%), PEL (-2.45%), HDFC Life (-1.57%), and REC Ltd (-1.35%) blood baths accompanied by Shri Ram Transport Finance Company (-1.25%), Mahindra & Mahindra Finance (-0.98%), and PFC (-1.01%).

Nifty Financial Services was trading 0.41% down at 17,457.55 points against its previous closing of 17,530.15 points. It touched day’s high and low of 17,567.85 and 17,129 points respectively in today’s trade.