Bank Nifty Hits Record High on HDFC, Axis Bank Boost

The Bank Nifty index notched a fresh all-time high of 57,076.95 during Thursday’s session, buoyed by strong demand for private-sector lenders. HDFC Bank and Axis Bank shares jumped more than 1 percent, lifting the entire banking pack into solid green territory.

“We expect Bank Nifty to cross 58,000 within the next two to three weeks,” said Chandan Taparia of Motilal Oswal.

Private lenders in the spotlight

Market momentum was driven largely by heavyweight constituents:

• HDFC Bank touched a new lifetime high, while
• ICICI Bank traded just shy of its record.

Together, HDFC Bank and ICICI Bank make up roughly half of the Bank Nifty’s weight, amplifying their impact on the benchmark. Sunny Agrawal of SBI Securities noted that the duo’s performance was pivotal to today’s rally, adding:

“Banks are positioned for healthier credit growth after the recent repo-rate cut. While net interest margins may feel pressure in 1Q FY26, they should improve through FY26, setting up a strong exit in 4Q FY26.”

Financial services index joins the party

The optimism spilled over to the Nifty Financial Services index, which climbed nearly 1 percent to a new record close of 27,144. Top performers included:

• ICICI Prudential Life Insurance,
• Jio Financial Services,
• Shriram Finance, and
• Bajaj Finance – each advancing over 2 percent.