As the market is witnessing a downward trend and most of the stocks witnessed volatility, banking stocks were not left behind either.
As the market wiped out 1,500 points in a single day (November 22), all the banking stocks were trading lower with Axis Bank and IndusInd being the top losers in the sector. Fears of rising inflation globally and domestically is leading to investors taking out money from emerging markets like India.
“Going forward, rising inflationary pressure will continue to haunt global markets as fears of rate hikes will pump out liquidity from emerging markets like India,” said Vinod Nair, head of research at Geojit Financial Services.
