HDFC Bank and Bajaj Finance lead as Nifty50 climbs to new record above 26,300

The Nifty50 index rose to a new all-time high of 26,310.45 during Thursday’s trading session, supported by strong buying interest among heavyweights in financial, IT, infrastructure and consumption-related stocks.The broad-based optimism in the market was reflected in the positive performance of 24 of the 50 index constituents, with several frontline stocks delivering solid percentage gains.

The rally was underpinned by the strength of domestic institutional flows and sector-specific momentum, with financial and tech names leading the way. The positive breadth helped the index reach new peaks despite marginal pressure from select heavyweights.

Top winners

• Bajaj Finance emerged as one of the strongest performers, rising 2.94% on the session. The stock’s momentum was supported by continued interest in non-bank financial companies.
  
  
• Larsen & Toubro (L&T) added 1.84%, contributing significantly to the index’s upward movement as the focus remained on infrastructure-related activities.
  
  
• Bajaj Finserv rose 1.28%, continuing the broader upward trend in financials.
• HDFC Bank rose 1.18%, while ICICI Bank rose 1.1%, extending gains in the banking sector.
  
  
• Hindustani Unilever rose 1.03% as select FMCG names saw buying interest.
• Shriram Finance also posted a gain of 1.06%, further boosting sentiment in the NBFC segment.

Other positive contributors

Some key Nifty stocks posted modest gains below 1% but still contributed positively to the index movement. These include Infosys (0.67%), HCLTech (0.56%), Asian Paints (0.57%), Indigo (0.2%), Bajaj Auto (0.4%), Tech Mahindra (0.43%) and Axis Bank (0.19%).

Other contributors like Sun Pharma, Titan, ITC, Adani Ports, BEL and Cipla also closed in the green, albeit with more moderate percentage gains ranging from 0.12% to 0.57%.

Lagging shares

Despite the sharp upward move, 26 stocks ended in the red, although most losses were relatively mild. The biggest loser on the index was Eicher Motors, which fell 2.13%, followed by SBI Life with a decline of 0.77%, ONGC with a decline of 1.05% and Grasim with a decline of 0.56%. Reliance Industries, SBI, Maruti Suzuki, Ultratech Cement, JSW Steel, Apollo Hospitals and Adani Enterprises saw declines ranging from 0.2% to 0.91%, but their impact on the overall index movement was limited by the strength of the gainers.

Also Read: JPMorgan expects Nifty50 to reach 30,000 by 2026 in bullish outlook for India

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