Bank Nifty Plunges Over 2%; Axis Bank Leads Losses, All 14 Constituents in Red

• Bank Nifty plunged over 2.1% to 55,736, with all 14 constituent stocks closing in the red due to heavy selling in private lenders.
• Axis Bank was the biggest loser, falling 4.48%, while HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and SBI also saw significant declines.
• Broader markets also suffered, with Sensex dropping 1,342 points (1.7%) and Nifty falling 395 points.
• Foreign Institutional Investors (FIIs) remained net sellers (Rs 4,673 crore), while Domestic Institutional Investors (DIIs) provided some support.
• Geopolitical tensions in the Middle East, particularly concerns over crude oil supply via the Strait of Hormuz, are influencing investor sentiment.