Nifty Bank cracks 3% to 11-month low as SBI, HDFC & Union Bank tumble. More pain ahead?

March 23, 2026

The Nifty Bank index slumped over 3% to an 11-month low as selling hit major lenders, including State Bank of India and HDFC Bank. A weaker rupee, persistent FII outflows and geopolitical tensions kept sentiment bearish, with analysts warning that volatility and downside risks may persist.

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