Bank Nifty Plunges Over 1% Amid Market Sell-Off; ICICI, Axis Bank Lead Decline

• Bank Nifty fell over 1% on Wednesday, January 21, extending declines due to selling pressure in heavyweight private lenders.
• The index touched an intraday low of 58,278.6, down 1.9% from its day's high, and is 3.6% below its all-time high.
• ICICI Bank, AU Small Finance Bank, IDFC First Bank, Axis Bank, and HDFC Bank were major contributors to the decline.
• Broader market weakness persisted, with Sensex down over 1,000 points and Nifty below 25,000, mirroring Tuesday's sharp sell-off.
• Global cues, US tariff threats, and FII outflows contributed to the risk-off sentiment, with technicals turning cautious for Bank Nifty.

Why It Matters: Bank Nifty crashed over 1% as market sell-off deepened, driven by private bank losses and global concerns.