Nifty Bank Index Falls Over 1% as HDFC Bank and Axis Bank Weigh on Banking Stocks

The Nifty Bank index traded lower on July 20, 2026, with weakness in heavyweight private banking stocks dragging the index into negative territory. At the time of the update, the index stood at 57,705.85, down 815.55 points (1.39%) from the previous close of 58,521.40.

The banking index opened at 57,738.25 and traded between an intraday high of 57,963.55 and a low of 57,557.30 during the session.

Nifty Bank Today

The Nifty Bank declined 1.39% to 57,705.85 on July 20, 2026. The index opened at 57,738.25 after closing at 58,521.40 in the previous session. During intraday trading, it touched a high of 57,963.55 and a low of 57,557.30. Over the past 52 weeks, the index has traded between 49,954.85 and 61,764.85.

Top Gainers and Losers

Despite the decline in the banking index, several public sector banks traded higher. Punjab National Bank (PNB) was the top gainer, rising 3.56% to ₹109.54. Union Bank of India gained 3.05% to ₹173.59, while Bank of Baroda advanced 2.27% to ₹252.40. Canara Bank climbed 2.06% to ₹127.58, and IDFC First Bank added 1.01% to ₹81.16.

Private sector banking stocks were among the biggest laggards during the session. Axis Bank fell 5.37% to ₹1,257.10, while HDFC Bank declined 4.91% to ₹779.35. AU Small Finance Bank dropped 3.42% to ₹995.00, YES Bank lost 2.75% to ₹22.96, and Kotak Mahindra Bank slipped 2.47% to ₹380.30.

Nifty Bank Performance

The banking index has delivered mixed returns across different time periods. It declined 0.73% over the past week and was almost unchanged over the last month, gaining 0.03%. Over the last three months, it has risen 1.99%, while it is down 2.86% over six months and 3.36% on a year-to-date basis. Over the past one year, the index has gained 2.53%, while it has delivered returns of 24.94% over three years and 67.67% over five years.

Top Constituents by Weight

The Nifty Bank index is heavily weighted towards large private sector banks. HDFC Bank has the highest weight in the index at 19.30%, followed by ICICI Bank (14.16%), State Bank of India (10.02%), Axis Bank (9.59%), and Kotak Mahindra Bank (9.31%). Other key constituents include Federal Bank (6.67%), IndusInd Bank (4.99%), AU Small Finance Bank (4.64%), IDFC First Bank (4.36%), and Bank of Baroda (4.00%).

About the Nifty Bank Index

The Nifty Bank is a sectoral index of the National Stock Exchange (NSE) that tracks the performance of up to 14 large and liquid banking stocks listed on the exchange. It is widely used as a benchmark for banking sector funds, exchange-traded funds (ETFs), and other investment products linked to the banking industry.

Read More: Why Is the Stock Market Falling Today on July 20, 2026? Sensex Drops Nearly 700 Points!

Conclusion

The Nifty Bank index remained under pressure on July 20, 2026, mainly due to sharp declines in heavyweight private lenders such as HDFC Bank and Axis Bank. 

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