Bank Nifty Surges 2.72%: PSU Banks Lead Rally as Index Nears Record High

By onkargadekar Nov 11, 2026 0

WhatsApp Group Join Now

Telegram Group Join Now

Instagram Group Join Now

Bank Nifty witnessed a strong rally on November 11, climbing 2.72% in morning trading to touch an intraday high of 61,394.30. Public sector banks led the gains, with 13 of the index’s 14 constituents trading in positive territory.

At 11:53 am, the index was trading at 61,302.20, up 1,560.95 points from its previous close of 59,741.25.

Among PSU lenders, Bank of Baroda surged 5.84% to Rs 275.20, while Punjab National Bank advanced 4.69% to Rs 138.37. State Bank of India also gained 3.05%, reaching Rs 1,073.80.

Private-sector banks joined the rally. Federal Bank climbed 5.03% to Rs 361.40, while Axis Bank rose 3.52% to Rs 1,356.90. HDFC Bank added 1.93% to Rs 813.55. HDFC Bank and Axis Bank contributed the most points to the index, followed by Federal Bank, SBI and Bank of Baroda.

ICICI Bank was the only stock among the 14 constituents to trade lower, slipping 0.04% to Rs 1,588.40.

PSU Bank Index Leads Sectoral Gains

The Nifty PSU Bank index advanced 3.19% in early trading, emerging as the top-performing sectoral index. Lower crude oil prices and renewed foreign investor buying also supported broader market sentiment.

The Nifty 50 was up 1.34% at 25,381.40 around 11:52 am. Foreign investors had also turned net buyers in November after selling shares through much of October.

Bank Nifty Nears Its Record High

Bank Nifty opened at 60,524.70 and initially slipped to 60,376.10 before recovering sharply to reach its session high of 61,394.30.

The index has gained 9.64% over the past week and 10.94% over the past month. Its 52-week and all-time high stands at 61,764.85, leaving it less than 1% below the record level.

Despite the recent momentum, Bank Nifty remains up 2.66% year to date and has advanced 5.44% over the past year. The strong performance has once again brought banking stocks into the spotlight.