Nifty Bank falls 1,800 points to record biggest single-day fall since March 2022

HDFC Bank’s 7.51% intraday fall caused a 4.7% or 2,145 points decline in Nifty Bank, its worst since March 2022. All 12 Nifty Bank constituents were in the red, including AU Small Finance Bank, Kotak Mahindra Bank, Federal Bank, and State Bank of India (SBI). The fall affected Nifty Financial Services, which dropped 3.8% or over 800 points. HDFC Bank’s Q3 earnings showed a 34% increase in net profit, but investors were concerned about loan growth and margins.

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