News18

The Bank Nifty rallied sharply in early trade on Wednesday, climbing nearly 700 points to cross 59,500 around 10:50 am. The index was up 1.2 percent for the session and has now gained 16.5 percent in 2025, handily outperforming the Nifty 50’s 9.7 percent year-to-date rise.

The upmove was broad-based, with all 12 Bank Nifty constituents trading in the green. PSU lenders led the charge: Canara Bank jumped 2.2 percent to Rs 151.95, while Punjab National Bank rose 2 percent to Rs 125.53. Among private lenders, Axis Bank and IndusInd Bank gained 2 percent and 1.9 percent, rising to Rs 1,291.8 and Rs 856.05, respectively. Bank of Baroda added 1.5 percent to Rs 291.6.

Sentiment was further boosted by supportive remarks from Reserve Bank of India Governor Sanjay Malhotra, who reiterated earlier this week that there remains scope to reduce policy interest rates.