NIFTY Bank hits record high, trades over 52,000 mark; private lenders lead rally

NIFTY Bank, one of the key sectoral indices of the National Stock Exchange of India (NSE), peaked to a new record during the early trading hours on Tuesday, June 25.

An intraday high of 52,188.25 was clocked by the index, which was up around 0.9% as against the previous day's close. At 11:15 am, NIFTY Bank was trading 0.8% higher at 52,117.

The broader indices also opened in the green, and were trading in the positive trajectory in the first couple of hours. NIFTY50 was at 23,574.10, up 0.15%, at 11:15 am. The BSE SENSEX was up 0.24% at 77,524.66.

Also Read: NIFTY & SENSEX open positive, broader indices continue to march higher

Private lenders power NIFTY Bank surge

The rally in NIFTY Bank index in today's trading session was led by private lenders. HDFC Bank, which holds the maximum weightage, jumped 1.35% to trade at ₹1,695 apiece on the NSE at 11:15 am.

Axis Bank was trading 1.52% higher at ₹1,246.7, ICICI Bank was up 0.36% at ₹1,174.3, and Kotak Mahindra Bank climbed 0.17% to ₹1,775.5.

Among the major public sector lenders, the State Bank of India (SBI) was in the green, trading 0.8% higher at ₹839.8. However, two other index movers -- the Punjab National Bank (PNB) and Bandhan Bank -- were in the red.

PNB was down 0.86% at ₹123.99 at 11:30 am, whereas Bandhan Bank was trading 2.8% lower at ₹202.12. The latter was also under focus as the Reserve Bank of India (RBI) has appointed Arun Kumar Singh, a former chief general manager of the central bank, as an additional director on Bandhan Bank's board. The appointment was notified to the exchanges late on June 24.