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The Bank Nifty continued its strong upward move today, touching its 52-week high as both private and PSU banks saw steady buying interest.

The rally across the banking space has boosted overall market sentiment, and traders are now watching closely to see whether the index can register a fresh all-time high in the session.

The mood in the broader market also remains positive, supported by strong domestic flows and improving confidence among retail and institutional investors.

Market expert Anil Singhvi shared his views on the ongoing trend in Indian markets, explaining that the recent strength is no longer dependent on foreign investors.

According to him, domestic investors, especially mutual funds, have stepped in strongly and are now playing a major role in holding the market steady.

Addressing concerns about foreign institutional investors (FIIs) selling, Singhvi said, “Earlier, you used to fear FII selling. Now it only spoils your mood. That means our fear is gone, and confidence has come.”

He highlighted that domestic funds have been consistently supporting the market for 55 straight days, helping it remain stable despite foreign outflows. However, Singhvi also mentioned that FIIs are still not ready to take large bullish positions.

“FIIs are nowhere close to fresh buying. They are still cutting long positions in index futures,” he added.

Looking ahead, Anil Singhvi remains optimistic about the banking index. He believes the strength in both the banking and NBFC sectors will continue to support the market.

“There is absolutely no reason why Bank Nifty should not make a new life high again,” he said, adding that the index is gradually moving toward the 60,000 mark.

His advice for investors stays simple: “Buy on dips in fundamentally strong stocks and especially those with good results.”

Private banks contributed significantly to Bank Nifty’s rally. AU Small Finance Bank led the gains, rising 3.22 per cent to Rs 919.25. Kotak Mahindra Bank also performed well, gaining 1.22 per cent to Rs 2,105.10.

Other important private banks added to the momentum. Axis Bank moved up to Rs 1,249.70 with a 0.65 per cent rise, while ICICI Bank traded higher at Rs 1,380.90, up 0.58 per cent.

IndusInd Bank also saw buying interest, trading at Rs 852.50, up 0.50 per cent. HDFC Bank, one of the heaviest-weighted stocks in the index, inched higher to Rs 992.25 with a 0.27 per cent gain.

IDFC First Bank supported the sentiment as well, rising 0.88 per cent to Rs 81.14.

Public sector banks outperformed private lenders today, with the Nifty PSU Bank Index jumping 1.39 per cent to 8,516.80. The rally was broad-based and reflected strong investor confidence in the sector.

Bank of Maharashtra surged to Rs 60.12 with a 3.64 per cent rise, while Indian Overseas Bank gained 3.45 per cent to Rs 40.13. Punjab & Sind Bank climbed 2.69 per cent to Rs 30.95, and Central Bank of India rose 2.66 per cent to Rs 38.92.

Large PSU names also showed strength. Canara Bank was up 2.43 per cent, trading at Rs 149.62. Indian Bank gained 2.56 per cent to reach Rs 890.70. UCO Bank increased to Rs 31.43 with 2.31 per cent gains, while Union Bank rose 1.47 per cent to Rs 155.

PNB traded at Rs 123.80 with a 1.30 per cent gain. Bank of India rose to Rs 148.01 with 1.02 per cent growth, while Bank of Baroda gained 0.96 per cent to Rs 289.50. SBI, the largest PSU bank, added 0.53 per cent, reaching Rs 973.

Anubhav Maurya is a Senior Sub-Editor at Zee Business, focusing on the stock market, personal finance, corporate news, and related sectors.

He has previously worked wi