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

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.