I think probably traders are thinking that the Bank Nifty maybe an underperformer which is still not so true because I would say banks have led this rally on the way up and it is just a bit of consolidation, time-based correction or some may call it a distribution as well.
US Stocks: Nasdaq ends down as expectations of Hormuz deal fade
The Nasdaq closed lower as investors worried about the Strait of Hormuz. U.S. crude oil prices jumped significantly amid the ongoing Middle East crisis. Intel