Although there is no direct correlation between housing finance companies’ (HFCs) stocks and Nifty Bank constituents, still the liquidity crisis around Dewan Housing Finance Corporation (DHFL) and Indiabulls Housing Finance have affected the sentiment severely. Various banks have exposures in these HFCs impacting the rising trend of Nifty Bank.
Earlier, the Nifty Bank looked set to cross the range of 31,700 – 31,800 with the strong support of 31,200 on closing basis. It made almost four attempts to climb towards 31,800 with every dip witnessing buying momentum. With …