NIFTY Bank hits new all-time high as HDFC Bank, ICICI Bank, IndusInd Bank lead rally

The NIFTY Bank index on Friday, January 2, 2026, hit a new record high of 60,152.35, surpassing its previous peak level of 60,114.30.

In contrast, shares of Axis Bank were trading 0.15% lower at ₹1,272.50.

Anil Gupta, Senior Vice President, Co Group Head - Financial Sector Ratings, ICRA, said, "2025 tested the resilience of banks with margin pressure and rising delinquencies in unsecured loans. As the rate-cut cycle nears an end and underwriting norms tighten, 2026 is poised for improved asset quality and profitability for banks."

Meanwhile, benchmark indices SENSEX and NIFTY50 were trading in green, as steady buying by domestic institutional investors (DIIs) and a rally in blue-chip Reliance Industries Ltd drove the stock markets higher in afternoon trade.

The NIFTY50 index accelerated 0.6% to 26,304.25 at 12:46 pm, while the SENSEX went up by 472.86 points to 85,661.46.

From the NIFTY firms, Coal India, NTPC, Trent, Hindalco, Jio Financial Services, Bajaj Finance, SBI Life Insurance, Maruti Suzuki, Wipro, Hindustan Unilever, ONGC, Power Grid, Max Healthcare, Mahindra & Mahindra and BEL were among the biggest gainers.

ITC, Nestle India, Shriram Finance, Dr Reddy's, Bharti Airtel, Tata Consumer Products, Apollo Hospitals, Axis Bank, Titan and UltraTech Cement were among the laggards.

Foreign Institutional Investors, or FIIs, offloaded equities worth ₹3,268.60 crore on January 1, while DIIs bought stocks worth ₹1,525.89 crore, according to exchange data.