Bank Nifty Extends Outperformance, Crosses 59,800 Mark As Sensex, Nifty Hit Record Highs

Bank Nifty Extends Outperformance:

The Bank Nifty scaled a fresh all-time high on Thursday, rising to 59,802.65 in early trade and gaining 0.46 percent for the day. The milestone comes a day after the banking gauge jumped over 700 points, extending its strong momentum in 2025. The index is now up 17 percent so far this year, significantly outperforming the Nifty 50, which has gained 10.7 percent year-to-date.

The surge in Bank Nifty coincided with a broader market rally, with both the NSE Nifty and the BSE Sensex touching fresh lifetime highs after a gap of 14 months. The Nifty crossed its earlier peak of 26,277.35 set in September 2024 to hit a new record of 26,306.95, also marking its first move above the 26,300 level. Meanwhile, the Sensex climbed

past the 86,000-mark for the first time, touching 86,026.18 in early deals. The upbeat sentiment was supported by positive global cues, expectations of interest rate cuts in the U.S. and India, and sustained foreign portfolio investor inflows.

Within the banking space, gains were evenly split, with six of the 12 Bank Nifty constituents trading in the green. HDFC Bank led the index higher, rising 1.05 percent to Rs 1,014.40. ICICI Bank followed with a gain of 0.72 percent at Rs 1,384.90. Among PSU lenders, Canara Bank advanced 0.56 percent to Rs 151, while IDFC First Bank edged up 0.37 percent to Rs 80.67.

On the downside, AU Small Finance Bank slipped 0.67 percent to Rs 947.35. Kotak Mahindra Bank fell 0.4 percent to Rs 2,095.40, while Federal Bank and State Bank of India declined 0.38 percent each.

Thursday’s record high builds on Wednesday’s sharp rally, when the Bank Nifty surged over 700 points to close at 59,528.05, largely driven by PSU bank stocks. The move was supported by upbeat commentary from Sanjay Malhotra, who said earlier this week that there was “certainly room” for policy rate cuts ahead of the Monetary Policy Committee meeting scheduled for December 3–5.

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