HDFC, SBI, Canara Bank Decline Up to 3% as Bank Nifty Snaps 5-Day Run

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Bank Nifty Ends Winning Streak

The Nifty Bank index fell up to 2% on Thursday, snapping five consecutive sessions of gains during which it had risen about 10.5%, triggering profit booking by investors.

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HDFC Bank Leads the Fall

HDFC Bank was among the worst performers, snapping its five-day gaining streak and falling 2.8% to hit an intraday low of ₹793.10 on the NSE.

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Other Heavyweights Also Bleed

IndusInd Bank and Kotak Mahindra Bank declined 2.28% and 2.14% respectively. ICICI Bank, SBI, Punjab National Bank and Axis Bank were down between 1% and 2%.

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Entire Index in the Red

All 14 constituents of the Nifty Bank index were trading in the red, with financial shares among the top losers in Thursday's trade, in line with the decline in benchmark indices.

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Why Did Banks Fall?

Profit booking after a sharp 10.5% rally over five sessions, combined with oil price rebound, ceasefire doubts, and cautious global sentiment, weighed on banking stocks today.

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HDFC, SBI, Canara Bank Decline Up to 3% as Bank Nifty Snaps 5-Day Run

Bank Nifty Ends Winning Streak The Nifty Bank index fell up to 2% on Thursday, snapping five consecutive sessions of gains during which it had risen about 10.5%, triggering profit booking by investors.

HDFC Bank Leads the Fall HDFC Bank was among the worst performers, snapping its five-day gaining streak and falling 2.8% to hit an intraday low of ₹793.10 on the NSE.

Other Heavyweights Also Bleed IndusInd Bank and Kotak Mahindra Bank declined 2.28% and 2.14% respectively. ICICI Bank, SBI, Punjab National Bank and Axis Bank were down between 1% and 2%.

Entire Index in the Red All 14 constituents of the Nifty Bank index were trading in the red, with financial shares among the top losers in Thursday's trade, in line with the decline in benchmark indices.

Why Did Banks Fall? Profit booking after a sharp 10.5% rally over five sessions, combined with oil price rebound, ceasefire doubts, and cautious global sentiment, weighed on banking stocks today.