Extending gains for the fourth consecutive trading session, shares of HDFC Bank rose as much as 0.94 percent on Friday to hit an all-time high of Rs 2,378 apiece on NSE. The stock hit a new 52-week high in the previous trading session as well.

The stock has gained 4 percent in the past five days and 3.5 percent in the last 30 days. According to Bloomberg data, the scrip was trading 24 times its earnings per share (EPS) for the coming year.

NSE's banking stock index, Nifty Bank, rose over 1 percent to hit an intraday high of 30,121.75 points. Nifty 50 fluctuated throughout the day, touching a high of 11,770.90. It previously closed at 11,724.75.

Banking shares have been rallying for the second straight session.

A total of 16 stocks listed on NSE have touched 52-week highs on Friday, including, Bata India, Kotak Mahindra Bank, Bajaj Finance and Reliance Industries Limited.