Sell-off in bank stks amid Adani fiasco provides good entry point: Analysts

Analysts believe the sell-off in bank stocks is overdone since exposure of Indian banks to Adani group remains contained

The blistering attack launched by Hindenburg Research on Adani Group has dampened sentiment across the banking pack as the group’s Rs 2.1-trillion debt has triggered repayment concern among investors.

Since the release of the report on January 24, the Nifty Bank Index has dropped 2.97 per cent on the National Stock Exchange, reveals ACE Equity data.

The Nifty Private Bank and PSU Bank indices, meanwhile, have fallen 2.26 per cent and 7.16 per cent, respectively.

Individually, State Bank of India (SBI) has shed the most (8.1 per cent), followed by Punjab National Bank, or PNB (7.5 per cent), IndusInd Bank