Bank stocks drop sharply amid RBI directive
after close1 source ↓written by the desknot a recommendation
- on 30 Mar
- 3%
- shortly after market
- 2.04%
Bank stocks, including HDFC Bank, ICICI Bank, and Axis Bank, fell by 3% on 30 Mar 2023. This decline follows the RBI's directive to limit net open positions on the rupee in the forex market, triggered by the rupee's poor performance against the US dollar. The Nifty Bank index dropped 2.04% shortly after market opening, reflecting broader sector concerns. 📉
Not investment advice. For informational purposes only.