Bank Nifty Declines for Second Day as PSU Banks Weigh on Market Sentiment

The Nifty Bank index declined for a second consecutive day, falling 0.42 percent to 59,642.70, ending a four-day rally. The Nifty PSU Bank index dropped about 1.15 percent, with Yes Bank and IndusInd Bank among the top losers, each down around 4 percent. While PSU banks faced sharp selling, private lenders like HDFC Bank and ICICI Bank showed resilience. Analysts noted resistance near 60,000-60,200, with support expected around 59,200-59,600, indicating market indecision and potential for either further gains or consolidation.