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2026-04-06 11:09:49
[Analysts: Indian bank stocks may fall further due to rupee controls and energy prices] (1) Analysts say that Indian bank stocks may face further declines due to the Reserve Bank of India's tightening of controls on rupee trading and rising energy prices dragging down profit prospects. (2) Jefferies estimates that banks may suffer losses of up to 50 billion rupees (about US$537 million) due to the guidance from the Reserve Bank of India. Global investors withdrew a record 327 billion rupees from financial services stocks in the first two weeks of March; the Nifty Banks Index has lost US$95 billion in market value since the beginning of March, almost entering a technical bear market. (3) Kranthi Bathini, equity strategist at WealthMills Securities, said that these stocks may come under further pressure in the short to medium term as monetary policy is likely to remain tight.
