Bank Nifty: Bandhan Bank top index gainer in one month; Zooms more than 11 per cent!

Bandhan Bank has been the worst performing bank within the Bank Nifty; down by 20 per cent on YTD basis.

Bank Nifty has underperformed frontline indices and also few of the other sectorial indices in 2021, such as Nifty IT, Nifty Energy, Nifty PSU bank, Nifty PSE, Nifty Commodity, Nifty Auto and Nifty Metal. Bank Nifty is down by 8 per cent from its 52-week highs and is underperforming Sensex when we compare the past one month’s return for both the indices.

Bandhan Bank is seen topping the list of gainers in Bank Nifty by recording gains of more than 11 per cent in past one month followed by AU Small Finance Bank, SBI, and PNB which are  up by more than 7 per cent each. Bandhan Bank has been the worst performing bank within the Bank Nifty; down by 20 per cent on YTD basis.

Bandhan Bank and AU Small Finance Bank are the only two Bank Nifty constituents that are trading above the 20 DMA – indicating strength in the near term. Kotak Mahindra Bank has underperformed the most in past one month and even on YTD basis the private bank is down by more than 11 per cent. RBL is another bank that is down by more than 10 per cent on YTD basis. IDFC First Bank, SBI and Federal bank are the top performing banks on YTD basis that are constituents of Bank Nifty, up by 54 per cent, 47 per cent and 23 per cent respectively.IDFC First Bank, SBI, AU Small Finance Bank and IndusInd Bank are the Bank Nifty constituents that have more than doubled in past one year.

The table below reflects the performance of Bank Nifty constituents in detail:-

*Data as on 18th June closing.