Axis Bank Hits Record High, IndusInd Bank at 52-Wk High, Lead Nifty Bank Pack

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Axis Bank Hits Record High, IndusInd Bank at 52-Wk High, Lead Nifty Bank Pack
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The sectoral index Nifty Bank closed the June 9-ended week with marginal gains while extending a two-day falling streak on Friday.

The index advanced 0.12% during the week, and ended flat, dipping 6.25 points at 43,989 levels at Friday’s close. All the constituent stocks ended mixed in the session.

The gains on the 12-scrip sectoral pack were led by private sector lenders on Friday, with IndusInd Bank (NS: INBK ) and Axis Bank (NS: AXBK ) hitting fresh 52-week highs in the session. Axis Bank hit a new all-time high of Rs 981.7/share on June 9, 2023.

Seven out of 12 stocks declined on the Nifty Bank index in the previous session, led by India’s largest public sector lender State Bank of India (NS: SBI ), which fell 2%, extending its two-day declining run.

Bandhan Bank (NS: BANH ) and Bank of Baroda (NS: BOB ) added to the losses on Friday, while leading private banks ICICI Bank (NS: ICBK ) and HDFC Bank (NS: HDBK ) provided support to the sectoral index.

The domestic market ended the previous week on a flat note with benchmark indices Nifty50 and Sensex making slight gains of 0.16% and 0.13%, respectively during the period.

Read Also: Nifty Bank Experiences Selling Pressure, Key Levels & Favorable Entry Points

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