Bank Nifty Snaps 3-Day Losing Streak as IDFC First, SBI Jump Up to 3%

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Last Updated: 23rd January 2026 - 11:51 am

Summary:

Bank Nifty ends three-day skid up 0.60% to 59,155 on January 22, led by IDFC First Bank and SBI gains up to 3%, with PSU Bank index topping 2% rise.

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On 22 January, the Nifty Bank Index traded higher by 0.60% at 59,155.45, having reversed its three-day decline due to broader market strength. IDFC First Bank led the gainers with an additional 3%-plus increase, bringing its share price near a new 52-week high of ₹83.81 with a close of ₹87.

Other banks showing good gains were; Canara Bank, Bank of Baroda, and State Bank of India with gains close to 2%, while Federal Bank and Union Bank of India each gained over 1%. Axis Bank, Kotak Mahindra Bank and Punjab National Bank all had near 1% increases too.

HDFC Bank and AU Small Finance Bank had very minimal increases in value, however.

PSU Bank Index Outperforms Broader Peers

The Nifty PSU Bank Index surged more than 2%, independent of its index counterpart, the Bank Nifty. Banks: Bank of India and Indian Bank both garnered 5%-plus increases.

IndusInd Bank deviated from the industry trend with an over 1% decrease. Both Yes Bank and ICICI Bank posted little losses.

Sector breadth was also positive today, in line with the overall equities sector rebound.

Key Gainers and Losers Breakdown

The IDFC First Bank emerged as the primary factor driving this index rebound. The action was also supported by the Government of India's bullishness on other public-sector banks like  State Bank of India ("SBI"), Canara Bank and Bank of Baroda. The private-sector banks Federated and Union Bank have experienced increased bullishness. HDFC Bank and AU went limit down today, providing support levels alongside the already mentioned banks.

In the context of performance, IndusInd Bank was the only bank to close in the red on a broad basis today. As for other banks that are experiencing this movement, their individual performance across all sectors would indicate a selective rebalance.

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