NAB Breaks Back Above $40 as Rate Expectations Shift

National Australia Bank (ASX:NAB) broke back above the $40 mark on July 24, closing at $40.27 after a 1.16% gain.

The rally came on a day when the broader market leaned defensive, with the S&P/ASX 200 slipping 0.40%. However, the financials sector rose 0.79%, and NAB was among the large-cap names carrying it higher.

No single company-specific announcement from NAB triggered the move, but rather a supportive interest-rate backdrop. The Reserve Bank of Australia's cash rate stands at 4.35%, following three increases in the first half of 2026.