Pivot Levels
| Type | Classic | Fibonacci |
|---|---|---|
| R1 | 59,178.33 | 59,135.87 |
| R2 | 59,443.82 | 59,253.47 |
| R3 | 59,676.63 | 59,443.82 |
| PP | 58,945.52 | 58,945.52 |
| S1 | 59,178.33 | 59,135.87 |
| S2 | 58,447.22 | 58,637.57 |
| S3 | 58,181.73 | 58,447.22 |
FAQs
What is the Nifty Bank Index?
The banking industry is the backbone of all large and developing economies. Stocks in this sector contribute heavily to the overall volume and trading frequency of the Indian stock markets. The Nifty Bank Index is a sectoral index comprising stocks from the banking sector listed on the National Stock Exchange (NSE) of India. It tracks the performance of major public and private sector banks, including both large and mid-sized institutions. Investing in the Nifty Bank Index allows investors to gain exposure to the banking sector, which plays a crucial role in India's economy through lending, financial regulation, and economic growth facilitation. This index serves as a benchmark for monitoring the overall performance of banking stocks in the Indian equity market.
How many companies are part of the Nifty Bank Index?
The Nifty Bank Index includes 12 leading banks such as HDFC Bank Ltd, ICICI Bank Ltd, State Bank of India (SBI), Axis Bank Ltd, and Kotak Mahindra Bank Ltd. These banks are selected based on their market capitalisation and representation within the banking sector. The index is reviewed semi-annually to ensure it reflects current market conditions and company performance. While banks may enter or exit the list subject to meeting the inclusion criterion, the total number of companies in the index is capped at 12. Each constituent's weightage is determined by its free float market capitalisation, providing investors with a comprehensive view of the banking sector's performance and trends in India.