Bank Nifty Hits Record High Amid NDA's Bihar Election Victory Boost

The rebound comes as investors show confidence amid the NDA’s win in the Bihar Elections 2025 and strong movement in select stocks.

The Sensex was seen trading at 84,759, up 196 points or 0.23 per cent. The Nifty also moved higher to 25,963, gaining 53 points or 0.21 per cent.

"On the weekly chart, the Nifty has shown a firm recovery from key support zones, closing above 25,900 and signaling a sideways-to-bullish bias," experts said.

"Immediate support is placed at 25,800 and 25,700, offering opportunities to accumulate on dips, while resistance levels are seen at 26,000 and 26,100 -- the latter acting as a critical breakout point. A sustained move above 26,100 could open the door for an upside extension toward the 26,250–26,400 zone in the coming weeks," they added.

Major Sensex gainers in early trade included Kotak Bank, L&T, Titan Company, M&M, SBI, Tech Mahindra, and ITC, all rising up to 1 per cent.

On the other hand, Tata Motors PV was the biggest loser, slipping 6 per cent. Other laggards included Eternal, Ultratech Cement, TCS, Power Grid, and Infosys.

The broader market sentiment was also positive. The Nifty MidCap index rose 0.45 per cent, while the Nifty SmallCap index climbed 0.48 per cent.

Among sectoral indices, the Bank Nifty touched a fresh lifetime high of 58,830 after rising 0.5 per cent. The Nifty PSU Bank index gained 1.2 per cent, while the Nifty Private Bank and FMCG indices added 0.5 per cent each.

The Nifty Financial Services index also inched up 0.4 per cent.

Analysts said that the market opened with renewed strength, supported by banking stocks and improving investor sentiment.

"Q2 results declared so far indicate an uptrend in earnings growth. Net profits have grown by 10.8 per cent, which is the best in the last six quarters. This is a beat over earlier estimates. The present trends in consumption indicate that earnings will further improve in Q3," market watchers mentioned.

- IANS