Banking Stocks in Focus: Nifty Bank crashes over 900 points as HDFC Bank, Axis Bank slide over 5% each; PNB, ICICI Bank rally
ET Now 20 hrs ago·20 Jul 2026, 3:58 am
Shares of Punjab National Bank (PNB) surged on the NSE today, gaining over 5% to hit a fresh 52-week high. This rally came as the broader banking sector faced intense volatility, with the Nifty Bank index dropping sharply. While major lenders like HDFC Bank and Axis Bank saw steep declines, PNB and ICICI Bank bucked the trend to trade in the green.
For investors, this move highlights the sector's inherent volatility. The sharp fall in some heavyweights suggests that market sentiment is currently reacting to broader factors, such as interest rate expectations or liquidity concerns, rather than individual bank performance. PNB's rally indicates that the stock is currently attracting buying interest despite the broader sectoral weakness.
Going forward, investors should watch the movement in the Nifty Bank index and the RBI's upcoming policy statements. A sustained rally in PNB will depend on whether the broader banking sentiment stabilizes or if the selling pressure in large-cap names spills over to mid-cap and public sector banks.
Excerpt from ET Now
Bank of India Bluechip Fund(G)-Direct Plan 1 Year Return: 5.62 3 Year Return: 14.43 5 Year Return: 12.03 Quant Large Cap Fund(G)-Direct Plan 1 Year Return: 8.30 3 Year Return: 16.05 5 Year Return: - Invesco India Largecap Fund(G)-Direct Plan 1 Year Return: 4.10 3 Year Return: 14.72 5 Year Return: 13.78 WOC Large Cap…Read the original at ET Now
Affected stocks
Bearish1 stock
Bull / bear label is derived from the article's AI sentiment — indicative, not advice. Prices may be delayed.
Key takeaways
- Concerns Punjab National Bank (PNB).
- Category: Sector.
- AI reads the tone as negative (potentially bearish) for the stock.
- Flagged as a high-impact, market-moving story.
Why it matters
This is a high-impact development for Punjab National Bank and could move the stock. The tone is negative — watch for downside reaction. Use the price and stock snapshot to gauge how the market is responding.
