Bank Nifty crosses 56,000 to hit record high as RBI rate decision looms

The Nifty Bank index crossed the 56,000 mark for the first time on Tuesday, driven by gains in select lenders ahead of an anticipated RBI rate cut. However, the index gave up early gains amid profit-booking and weakness in heavyweight banks. While smaller lenders saw buying interest, ICICI Bank, Axis Bank, and Kotak Mahindra Bank dragged the index lower.