India's private banks index hits over 5-month low in broad market selloff

ICICI Bank

09/03/2026 05:36

** Nifty Private Bank .NIFPVTBNK index down 3.5% at 26,468.2, lowest since October 1, tracking losses in benchmark Nifty 50 .NSEI index which lost 2.55%

** Shares of heavyweight HDFC Bank HDBK.NS fall 2.5% to 835 rupees, lowest since March 11, 2025

** ICICI Bank ICBK.NS sheds 3.3% to 1,270 rupees, lowest since April 7, 2025

** HDBK and ICBK lead fall in markets as they are the heaviest weighted stocks in both the benchmarks as well as in banks and private bank indexes

** HDBK rated as "Buy" with median PT at 1,165 rupees; ICBK rated as "Buy" with median PT at 1,713 rupees - data compiled by LSEG

** YTD, Nifty Private Bank index down 7.8%, HDBK down 16.1%, ICBK down 5.7%; Nifty 50 sheds 8.6% YTD

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))