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Nifty Plunges Below 22,900, PSU Banks Battered Amid Rate Hike Fears
M
Moneycontrol•28-09-2026, 14:59
Nifty Plunges Below 22,900, PSU Banks Battered Amid Rate Hike Fears
- •Nifty drops below 22,900 for the first time since April 7, falling nearly 300 points, while Sensex slips over 1,050 points.
- •Broader markets remain weak, with small- and midcap indices down around 1% and VIX jumping over 12%.
- •PSU banking stocks are rattled by rate hike concerns, and gold finance and metal stocks also decline.
- •Brent crude tops $107 a barrel after Trump rejects Iran’s proposal, impacting global markets.
- •Asian markets trade weak, with Nikkei and Kospi slipping 0.7%-3%, while US futures decline.
Key Questions Answered
PSU banking, gold finance, and metal stocks were rattled and slipped amid growing worries over higher interest rates and rate hike concerns.
As many as 48 Nifty stocks dropped into the red, with only Dr Reddy's and Infosys remaining as the top gainers in positive territory.
Brent crude climbed past $107 a barrel after President Trump rejected Iran's proposal and indicated that US strikes could resume following the November mid-term elections.
