Nifty Bank Drops 3% on April 7; Canara Bank, Kotak Mahindra Bank, Axis Bank Dip Over 4%

On April 7, 2025, Nifty Bank opened on a weak note at 49,336.10, down from its previous close of 51,502.70. By 10:08 AM, the index had slipped further to 49,800.25, marking a decline of 3.31%. During the same period, it hit its intraday low of 49,242.25. Amidst the overall weakness, none of the stocks in the Nifty Bank index were trading in the green. 

The 52-week high and low of the Nifty Bank index stand at 54,467.35 and 46,077.85, respectively.

Stock Performance in the Nifty Bank Index 

Among individual banking stocks, Canara Bank led the decline, falling by 5.18%, followed by Kotak Mahindra Bank, which dropped by 4.52%. Axis Bank and IDFC First Bank also registered notable losses, down by 4.16% and 3.98%, respectively. Most stocks in the index were down by over 3%, reflecting a negative sentiment across the sector.

The pressure on Nifty Bank came amid broader market weakness. On Friday, the Nifty 50 breached the 23,000 mark, while the Sensex plunged 930.67 points (1.22%) to close at 75,364.69. The Nifty 50 settled at 22,904.45, down 345.65 points (1.49%).

Continuing the downward momentum, the Nifty 50 opened lower at 21,758.40 today and, as of 10:26 AM, was trading 4.19% lower.

Conclusion

The sharp decline in the Nifty Bank index, along with broader market weakness, highlights investor concerns possibly driven by global cues. With most bank stocks under pressure, market participants may stay cautious and look for stability in upcoming sessions before re-entering the banking space.

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