Bank Nifty rises for 6th day as Federal Bank, HDFC jump up to 3%: What lies ahead?

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26 Aug, 2025 12:21

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The Nifty Bank index recorded gains on October 7, extending its gaining streak to the sixth session. Analysts have advised key levels to watch out for the index, breaking which, it can rally further.

The Nifty Bank index gained around 134.5 points (0.24 percent) to close at 56,239. This is the highest level seen by the index in more than three months.

Federal Bank was the top gainer on the index, rising more than 3 percent to trade at Rs 199.49 apiece. IndusInd Bank, IDFC First Bank, HDFC Bank, ICICI Bank and Canara Bank shares meanwhile gained around 1 percent each.

Bucking the trend, the shares of Punjab National Bank (PNB) and AU Small Finance Bank shares were trading in the red with marginal losses. State Bank of India (SBI) and Kotak Mahindra Bank shares dropped over 1 percent each, while Bank of Baroda shares dropped around 2 percent. Axis Bank shares emerged as one of the top losers on the market today after falling more than 2 percent.

Earlier during the day, the index had gained further, rising more than 400 points (0.7 percent) to hit an intraday high of 56,502.45. It later pared gains to close at 56,239.35 as investors may have resorted to profit booking at elevated levels.

"From a technical perspective, the Nifty decisively breached the key resistance at 25,200, potentially paving the way toward the 25,500 mark, while immediate support rests at 25,000. Similarly, Bank Nifty faces resistance at 56,500, and a breakout above this level could propel it toward 57,000, with the nearest support positioned at 56,200," said Ashika Institutional Equities.

Axis Securities in its report had said that the trend-deciding level for the day is 55,999. If Bank Nifty trades above this level, it may rally up to 56,270-56,436-56,707 levels. However, if it trades below 55,999 levels, we may witness profit booking in the market, and the index may correct up to 55,833-55,562-55,396 levels.

Hardik Matalia, Derivative Analyst of Research at Choice Equity Broki, had said that if Bank Nifty crossed the 56,000 level, 56,200 would be the initial key resistance, followed by 56,300 and 56,400.

Also read: Our LIVE blog on stock market updates