Axis Bank, HDFC Bank, other bank stocks drop up to 2%, Nifty Bank falls 440 points. What lies ahead?

May 8, 2026

Banking stocks dragged the Nifty Bank index lower by nearly 440 points amid weakness in heavyweight lenders like HDFC Bank and Axis Bank. Broader market pressure from rising oil prices and FII outflows weighed on sentiment, while analysts flagged key support and resistance levels for the index in the near term.

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