Bank Nifty Hits All-Time High of 57,112 Intraday; HDFC Bank, Axis Bank Lead Surge

Mumbai, June 26, 2025 — The Nifty Bank index soared to a fresh lifetime high of 57,112.45 during intraday trade on Thursday, buoyed by strong gains in HDFC Bank, Axis Bank, and ICICI Bank.

By 2:05 PM IST, the index was quoting at 57,086.60, up 0.82% or 465 points, surpassing its previous record of 57,049.50. The rally, supported by favourable global sentiment and the Reserve Bank of India’s easing measures, marks the index’s fourth consecutive monthly gain.

HDFC Bank Hits New Peak, ICICI Bank, Axis Bank Shine

Leading the charge was HDFC Bank, which surged 1.68% to a new 52-week high of ₹2,013.50, backed by strong volumes exceeding ₹2,078 crore. Axis Bank climbed 1.85% to ₹1,235.80, while ICICI Bank gained 1.3% to ₹1,444.30. Together, these three heavyweights accounted for a significant chunk of the ₹68,967 crore traded value on the Nifty Bank index as of 2:05 PM.

Despite the index’s surge, the market breadth within Nifty Bank was evenly split between gainers and losers, with 6 stocks advancing and 6 declining, reflecting sectoral rotation within the banking pack.

RBI Policy Tailwinds Boost Sentiment

The rally comes on the heels of the RBI’s recent liquidity-boosting steps aimed at reviving credit demand. These include:

• Reduction in project finance provisioning to 1.25% for commercial and 1.00% for residential/other real estate projects
• Relaxation of liquidity coverage ratio (LCR) norms
• Deferment of the Expected Credit Loss (ECL) framework
• A 50 bps repo rate cut and 100 bps CRR cut during the June 2025 Monetary Policy Committee meeting

Despite these measures, credit growth remains muted at 9% year-on-year as of end-May, the lowest in over three years.

Technical Setup: Index Approaches Resistance Zone

According to analysts, Bank Nifty now finds strong technical support at the 54,000–54,500 zone, marked by the confluence of the 50-day exponential moving average (EMA) and key Fibonacci levels. With a 14-day RSI still in an uptrend, the index may soon test resistance at 57,600, making the coming sessions crucial for short-term momentum.

Broader Index Overview

• Opening: 56,693.55
• Day’s Low: 56,558.35
• Volume: Over 10 crore shares traded
• Year High breached: New 52-week high set at 57,112.45
• Year-to-date gain: 7.63%
• 30-day return: 1.89%

Outlook

Investor sentiment remains upbeat as private banks consolidate leadership in the market. With monetary easing now in full swing and credit demand expected to gradually recover, Nifty Bank’s historic momentum may sustain further into FY26, especially if heavyweight constituents continue to outperform.

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