Nifty Bank index fell over 3% in five sessions. Experts list out these five stocks to buy today

livemint.com:

Stock market today: Extending weakness for fifth day in a row, Nifty Bank index today opened with downside gap and went on to hit intraday low of 43,600 levels, logging 1364 points loss in five straight sessions. Comparing Bank Nifty's last positive closing of 44,964 on 8th August 2023 and today intraday low of 43,600 mark, Bank Nifty has logged over 3 per cent loss in five successive trade sessions since Wednesday last week. According to stock market experts, today fall can be attributed to Fitch warning to downgrade dozens of US banks including JP Morgan.

This has changed the sentiments on banking sector, which was already reeling under the sell off heat for last four days. But, they maintained that Indian and US banking systems are mutually exclusive and it won't have any long term impact. But, they maintained that high interest regime has peaked out in India and now banks with better CASA would be able to attract more customers and deliver better numbers in upcoming quarters.

So, one should look at big sized PSU and private banks for medium to long term time horizon. Stock market experts went on to add that Bank Nifty has breached its support at 43,800 to 43,750 levels and its closing today would be important to watch. If it manages to close above 43,750 to 43,800 range, then we can expect recovery in the index.