Bank Nifty's Potential Rebound: Analysts Eye 49,500 as Key Support Post-Worst Month Since Covid
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Bank Nifty's Steepest Fall Since Covid: Will 49,500 Hold as Support?
M
Moneycontrol•31-03-2026, 16:37
Bank Nifty's Steepest Fall Since Covid: Will 49,500 Hold as Support?
•Bank Nifty recorded its steepest monthly decline since the Covid-led selloff, underperforming the broader market.
•Analysts identify the 49,800–49,500 zone as a crucial support level for the index.
•The banking index fell 3.82 percent to 50,275.35, its lowest since April 9, 2025, extending losses to 6.5 percent over two days.
•The fall indicates a shift in trend and aggressive unwinding across the banking space, with sustained lower lows and broad-based selling.
•Union Bank of India, Canara Bank, Bank of Baroda, HDFC Bank, and State Bank of India were among the top laggards, with all 14 constituents closing in the red.
