Bank Nifty hits fresh record high, climbs above 59,800 as Sensex, Nifty scale new peaks; index extends outperformance streak

The Bank Nifty climbed to a new all-time high on Thursday, touching 59,802.65 in early trade and rising 0.46 percent for the day. The milestone came just a day after the banking index jumped over 700 points and extended its strong year-to-date performance. The Bank Nifty has now gained 17 percent so far in 2025, comfortably outperforming the Nifty 50, which has risen 10.7 percent year-to-date.

Thursday’s move coincided with a broad market rally, as both NSE Nifty and BSE Sensex also hit fresh record highs after a 14-month gap. The Nifty rose past its previous peak of 26,277.35 set in September 2024, touching 26,306.95 and crossing 26,300 for the first time. The Sensex climbed above the 86,000 level for the first time, reaching 86,026.18 in early trade. Supportive global cues, expectations of interest rate cuts in the U.S. and India, and strong foreign portfolio investor (FPI) buying underpinned the sentiment across the board.

Gains within the Bank Nifty were evenly split, with six of the twelve constituents advancing. HDFC Bank shares led the index higher, rising 1.05 percent to Rs 1,014.4, followed by ICICI Bank, which gained 0.72 percent to Rs 1,384.9. Canara Bank added 0.56 percent to Rs 151, while IDFC First Bank edged up 0.37 percent to Rs 80.67.

• Also read | Sensex crosses 86k for first time, Nifty at record high after 14 months

On the other hand, AU Small Finance Bank stock was the top loser, slipping 0.67 percent to Rs 947.35. Kotak Mahindra Bank declined 0.4 percent to Rs 2,095.4, while Federal Bank and State Bank of India weakened 0.38 percent each, trading at Rs 255.39 and Rs 980.15 respectively.

Thursday’s record high builds on Wednesday’s strong performance, when the banking index surged over 700 points to end the trading session at 59,528.05, driven largely by gains in PSU banks. That rally came amid upbeat commentary from Reserve Bank of India Governor Sanjay Malhotra, who said in a TV interview earlier this week that there remained “certainly room” to reduce policy interest rates, ahead of the MPC meeting scheduled for December 3-5.

---