Banking shares bounced back on Thursday as investors bought into the dip, ending a three-session losing streak for the sector.
The Nifty Bank index, which had slipped nearly 1.5% over the last three sessions, closed 0.4% higher, signaling renewed buying interest.
Kotak Mahindra Bank Outperforms
- Kotak Mahindra Bank led the recovery with a 2%+ jump, closing at тВ╣2,173.30 on the NSE.
- HDFC Bank and Canara Bank also advanced, rising 1.02% and 0.85%, respectively.
- Punjab National Bank, State Bank of India, and IndusInd Bank added up to 0.5%.
Technical View
Sudeep Shah, Head тАУ Technical and Derivatives Research at SBI Securities, noted that Bank Nifty has been fluctuating around its 20-day EMA for the past three sessions, a key area for short-term trend direction.
The rebound indicates improving sentiment in financials after recent pressure, with investors stepping in at support levels.
