Bank Nifty Sees Stellar Buying, Hits New Record; 4 Banking Stocks Touch New 52-Week Highs; Next Target?

All banking stocks witnessed a strong buying sentiment on November 26, 2025, taking Bank Nifty to new all-time high. Four banking stocks touched new 52-week highs, among them are the large-caps State Bank of India (SBI), Axis Bank and Canara Bank. The stellar bullish trend is due to outperformance in broader market on Wednesday. Will Bank Nifty hit 60,000 by end of this week?

Bank Nifty Index:

At the time of writing, Bank Nifty traded at 59,456.15, skyrocketing by 635.85 points or 1.08%. In the opening bell, the index touched its new all-time high of 59,515.30. Overall, in 30-days span, Bank Nifty gained by a whopping 2%.

Explaining the reason behind the rally, Ponmudi R, CEO of Enrich Money said, "Bank Nifty, meanwhile, started on a strong footing and continues to outperform the broader market, highlighting leadership from banking stocks."

"The strength in banking counters is further supported by steady global cues and an improving outlook for the financial sector, keeping investor sentiment upbeat," he added.

Banking Stocks Rally:

Canara Bank and Axis Bank are top gainers with upside of 2% each, while stocks like Punjab National Bank and IndusInd Bank soared by over 1.8% each. AU Small Finance Bank rallied by 1.5%, IDFC First Bank gained by 1.4%, while SBI and Bank of Baroda surged by 1.3% each.

Further, HDFC Bank, the largest banking stock in terms of market value, advanced by over 1%. Stocks like ICICI Bank, Federal Bank and Kotak Bank also surged by 0.4% to 0.7%.

Stocks that touched new 52-Week highs are:

Canara Bank: Rs 152.50 New 1-Year High

Axis Bank: Rs 1,292.80 New 1-Year High

SBI: Rs 999 New 1-Year High

Federal Bank - Rs 258.80 New 1-Year High

Next Target For Bank Nifty?

As per Ponmudi, the index is comfortably holding above its key support at 58,800 and is inching closer to its record-high zone near 59,450. Options data shows robust Put writing around 59,000, reflecting trader confidence at lower levels. A breakout above 59,350 could propel the index toward 59,800-60,000.

Furthermore, Vaishali Parekh, Vice President - Technical Research at PL Capital said, Bank Nifty amid fluctuations has been consolidating near the 58800 zone with bias maintained intact, having the near-term support positioned near the 58000 level, while the major and crucial support lies near the 50EMA zone at the 57400 level, which needs to be sustained to maintain the overall trend intact. On the upside, a decisive breach above the 59500 zone is much needed to carry on with the positive trend.

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