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.

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.