Bank Nifty Sets Record as Lenders Rally, Sensex and Nifty Swing in Volatile Trade
Cooling inflation strengthened expectations of RBI easing, lifting banking shares.
Overview
- Nifty Bank touched a new intraday peak of 58,609.20 in early trade before trimming gains.
- IndusInd Bank rose about 3% and ICICI Bank advanced roughly 2%, with Axis Bank and SBI also contributing to the climb.
- Sensex and Nifty opened slightly lower and later hovered near flat levels during a choppy session on mixed global cues.
- Recent flow data showed FIIs as net sellers across sessions while DIIs stepped in as net buyers with sizable purchases.
- Analysts linked the banking surge to robust Q2 credit and deposit growth, cleaner asset quality, stronger profitability, and rate-cut hopes after October CPI fell to 0.25%.