Nifty Bank Gives Up Early Gains After Fed Rate Hike; HDFC, Yes Bank, ICICI Fall
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Nifty Bank slipped after giving up early gains following the Fed rate hike of 25 bps. HDFC Bank, Yes Bank and ICICI Bank were among the top laggards.
Nifty Bank struggled to hold its early gains on Thursday, 17 September, after extending the previous session's advance following the US Federal Reserve's 25-basis-point rate hike.
HDFC Bank, Yes Bank and ICICI Bank were among the top drags, while IndusInd Bank, Axis Bank, Punjab National Bank, AU Small Finance Bank and Kotak Mahindra Bank were among the gainers.
How Are HDFC Bank, Yes Bank And ICICI Bank Trading Today?
HDFC Bank shares were trading at ₹718.00, down 0.49%, at 12:44 pm on 17 September. The bank had a market capitalisation of ₹11,01,728.45 crore. The stock touched a 52-week high of ₹1,020.50 on 23 October 2025 and fell to a 52-week low of ₹681.90 on 11 September 2026. HDFC Bank shares have gained 3% over one week but remain down 26% over one year.
Yes Bank shares were at ₹23.03, down by 1.58%, at 12:45 pm. Its market capitalisation stood at over ₹72,440 crore. The stock has risen 7.12% so far in 2026 and is up around 25.79% over three years.
ICICI Bank shares were trading at ₹1,357.50, down 0.096%, at 12:46 pm. The stock had an intraday high of ₹1,363 and a low of ₹1,350. Its market capitalisation was over ₹9,68,000 crore.
ICICI Bank had touched a 52-week high of ₹1,480 on 20 July 2026 and a 52-week low of ₹1,187.60 on 2 April 2026. The stock is down 4.75% over the past year and has risen about 36% over three years.
What Are Analysts Tracking In HDFC Bank, Yes Bank And ICICI Bank?
Technical analysts have identified different price zones for the three stocks.
For HDFC Bank, the stock is trading near a support zone of ₹636-684. Analysts noted buying in the stock over the previous four sessions. A sustained close above ₹735 could provide a level to watch, while the stock may remain range-bound around the current levels.
Yes Bank is trading close to a resistance zone of ₹24.75-27.75, where analysts have observed selling activity. The stock's nearby support is placed at ₹21.96. A move below this level could take the stock towards ₹21.02, followed by ₹20.79. Analysts have suggested waiting for a monthly close above ₹27.75 before considering a change in the current technical setup.
For ICICI Bank, the recent selling near its resistance zone was accompanied by above-average volumes, according to analysts. The stock has also broken down from a symmetrical pattern on the daily timeframe.
The next support levels for ICICI Bank are placed at ₹1,320, ₹1,300 and ₹1,280. For a bullish move, analysts said the stock needs to sustain above ₹1,402.
What Is The Broader Nifty Bank Picture?
The banking index opened higher on Thursday after the US Federal Reserve raised interest rates by 25 basis points. The early strength, however, did not hold through the morning session.
The divergence within the index came as the banking gauge gave up its opening gains despite the previous session's upward momentum and the Fed's rate decision.
Also Read - Ashishkumar Chauhan’s Three-Decade Journey Leads NSE To The Threshold Of Its IPO
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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