The Nifty Bank index logged a modest gain of 0.47 per cent on Wednesday, closing at 57,783.75 amid a total trading turnover of ₹5,301.4 crore. The sectoral index outperformed the benchmark Nifty 50, which slid 0.5 per cent to close at 24,207.75.
Large lenders drove the upside. Kotak Mahindra Bank led the gains, surging 3.76 per cent to close at ₹416.7, followed by Axis Bank (up 1.62 per cent) and State Bank of India (up 0.38 per cent). HDFC Bank slipped 0.04 per cent. Public-sector lenders posted modest gains, with Canara Bank rising 0.51 per cent and Union Bank gaining 0.29 per cent. Conversely, AU Bank and IndusInd Bank slid 1.34 per cent and 1.08 per cent, respectively.
Overall, the NSE Nifty Private Bank index gained 1 per cent, outperforming the Nifty PSU Bank index, which rose 0.8 per cent. However, long-term performance metrics highlight a structural divergence. Over the past 365 days, Federal Bank and AU Bank gained 79.41 per cent and 49.41 per cent, respectively, while HDFC Bank fell 25.29 per cent. Over longer time horizons, public-sector lenders continued to lead, with the PSU Bank index up 26.6 per cent over one year, compared with a modest 5.3 per cent gain for private banks.
