Bank Nifty Hits Record High on RBI Rate, CRR Cuts

Bank Nifty breached the 57,000 mark for the first time on June 9, driven by the RBI’s surprise 50 bps repo rate cut and a 100 bps CRR reduction. PSU and private bank indices also rallied, with strong gains in stocks like Kotak Bank, Canara Bank, and UCO Bank boosting market sentiment.