Bank Nifty tumbles nearly 3 percent, slipping below 55,000 mark

The Nifty Bank index fell 2.79 percent over the week to close at 54,287.35, slipping below the 55,000 mark and snapping its two-week winning streak.

Yes Bank was the worst-performing constituent, plunging 10.84 percent over the week, followed by IDFC First Bank and Axis Bank.

Analysts indicate a sideways-to-bearish bias, placing immediate support at the 53,700–54,000 zone.