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Banking stocks fall: Nifty Bank declines 1% to 57,158 points as Axis Bank, Bank of Baroda, others drag overall index
4 min read | Updated on August 11, 2026, 11:16 IST
SUMMARY
Banking stocks declined on Tuesday, August 11, as heavyweight stocks dragged the sectoral losses amid the overall selling pressure in the broader indices.
Nifty Bank index dropped around 1% to 57,158.10 points on Tuesday, August 11. | Image: Shutterstock
The sectoral banking index, Nifty Bank, declined around 1% to touch its morning market low levels on Tuesday, August 11, as heavyweight stocks trading in the red dragged down the benchmark index amid overall selling pressure in the market.
The overall market sentiment was dented on Tuesday as global crude oil prices surged past $88 per barrel, amid signs of a halt in West Asia negotiations. Reports also suggest that President Donald Trump said that the United States will seek compensation from Iran for the war casualties.
This comes days after Iran demanded America to pay for the damages from the five-month conflict.
NSE data showed that the Nifty Bank index dropped around 1% to 57,158.10 points on Tuesday’s trading session, in comparison to 57,686.95 points at the previous equity market close.
After touching the intraday low, the Nifty Bank index was trading 0.87% lower at 57,186.85 points during the trading session on August 11.
Stocks like Axis Bank, IndusInd Bank, Bank of Baroda, Kotak Mahindra Bank, among others, were dragging down the index on Tuesday’s market.
| Company name | Current market price (CMP) | Intraday returns | YTD returns |
|---|---|---|---|
| AU Small Finance Bank | ₹1,049 | -1.84% | 5% |
| Federal Bank | ₹352 | -1.71% | 32% |
| IndusInd Bank | ₹1,010 | -1.71% | 13.5% |
| Axis Bank | ₹1,231 | -1.53% | -3.3% |
| Bank of Baroda | ₹247 | -1.69% | -18% |
| Kotak Mahindra Bank | ₹390 | -1.18% | -12% |
| IDFC First Bank | ₹84.56 | -1.04% | -1.2% |
| State Bank of India | ₹1,067 | -1% | 8.3% |
| ICICI Bank | ₹1,423 | -0.74% | 6.3% |
| HDFC Bank | ₹727.95 | -0.60% | -26.5% |
What do experts say?
Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, said that the Nifty Bank index remains in the key focus of investors amid the benchmark index breaching the immediate support levels due to selling pressure.
The expert said that the Nifty Bank index had immediate support at the 57,600–57,400 range on Tuesday’s market, which the bull investors needed to defend, while the resistance level is expected to range between 58,000 and 58,275 points.
“Bank Nifty remains the key index to monitor, with 58,100 continuing to act as an important resistance hurdle. Immediate support is seen in the 57,600–57,400 region, with 57,400 emerging as a critical level that bulls need to defend. Resistance is expected between 58,000 and 58,275,” said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a SEBI-registered Research Analyst firm.
How has Nifty Bank performed?
NSE data showed that the Nifty Bank index has delivered more than 59% returns on its investment in the last five years, over 29% gains in the last three years, and around 3% returns to the investors in the past one-year period.
However, on a year-to-date (YTD) basis, the sectoral benchmark index has declined 4% and is down 1.4% in the past one-month period. The exchange data also showed that the Nifty Bank was trading 1.2% in the last five market sessions.
In the last one-year period, the Nifty Bank has outperformed the benchmark NIFTY50 index, which has lost 0.47% in the past year.
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