Sensex ends over 500 points lower, Nifty below 25,000; Axis Bank falls 5%
Banking stocks were hurt by a sharp drop in shares of Axis Bank after it posted its Q1FY26 results. The shares of private lender settled over 5% lower and the Nifty Private Bank index fell nearly 1.5%.'A broad-based sell-off was observed in the national market amidst a disappointing initial set of earnings from the finance and IT sectors,' said Vinod Nair, Head of Research at Geojit Financial Services.He added that high valuations in large-cap stocks and significant FII short positions have made investors more cautious.Concerns around India's trade ties with Russia, following tariff threats, further added to the uncertainty. However, Nair remains positive on India's medium- to long-term prospects, underpinned by low inflation and a supportive monetary policy stance.- Ends
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