NIFTY BANK Index Slumps Over 1,000 Points in Intraday Trade on September 28, 2026

The NIFTY BANK Index opened the September 28, 2026, session with a weak outlook at 55,347.80 and registered an intraday high of 55,390.10 soon after opening. The index later touched an intraday low of 54,494.40. 

NIFTY BANK Index Performance on September 28, 2026 

The NIFTY BANK index opened below its previous close at the 55,347.80 level and hit an intraday high of 55,390.10. 

As the session progressed, aggressive selling pressure emerged across major banking counters, dragging the index down by over 1,080 points from its morning high to touch a low of 54,494.40. 

At 11:56 AM, the index was trading at 54,563.65, down by 1,016.75 points or 1.83% on September 28, 2026. 

Advance Decline Ratio of NIFTY BANK Index on September 28, 2026 

The market breadth of NIFTY BANK remained extremely weak during the morning session on September 28, 2026, with 1 stock advancing and 13 stocks declining.  

Heavy liquidation was observed across both private and public sector banking heavyweights, leaving the vast majority of index constituents in the red. 

Top Gainers and Losers of NIFTY BANK Index on September 28, 2026 

The banking index recorded sharp downward movements across nearly all its constituents during the session as of at 11:56 AM.  

Among the gainers, Federal Bank (FEDERALBNK) stood as the solitary stock trading in positive territory, recording a Last Traded Price (LTP) of 323.65 and gaining 1.65 points (+0.51%). 

Conversely, severe selling pressure was observed among the top losers, Yes Bank (YESBANK) dropped the sharpest in percentage terms, falling by 0.95 points (-4.22%) to an LTP of 21.55. 

Union Bank of India (UNIONBANK) also faced notable corrections, shedding 6.06 points (-3.36%) to reach an LTP of 174.14. 

Canara Bank (CANBK) lost value, decreasing by 3.49 points (-2.79%) to trade at an LTP of 121.50. 

While IDFC First Bank (IDFCFIRSTB) slid close behind, dropping by 2.33 points (-2.78%) to cross an LTP of 81.47. 

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Conclusion 

On Monday, September 28, 2026, the NIFTY BANK Index plunged by 1.83% by midday, weighed down by widespread risk-off sentiment. While Federal Bank managed to cling to minor gains as the sole advancing constituent, heavy damage to major banking scripts like Yes Bank, Union Bank, and heavyweights like HDFC Bank pulled the sectoral index down significantly. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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