Bank Nifty Plunges Over 2% Amid Crude-Driven Inflation Fears; ICICI, HDFC Bank Hit

• Bank Nifty index fell over 2% as elevated crude oil prices fueled inflation concerns and tighter monetary policy fears.
• ICICI Bank, HDFC Bank, State Bank of India, and Axis Bank were among the top Nifty losers, leading the sectoral decline.
• The Sensex dropped nearly 1,100 points, and Nifty fell 315 points, with market breadth turning weak.
• Analysts link the weakness to persistent geopolitical tensions in the Middle East driving crude prices and reigniting inflationary pressures.
• Crude prices, particularly Brent crude nearing $90-100, are identified as a key variable that could further pressure global equities.