Union Bank of India surged 8%, while Bank of Maharashtra, Indian Bank, Indian Overseas Bank and Punjab & Sind Bank were up 4% each on the NSE in intra-day trade.
SBI stock trend: In the past one month, SBI has outperformed the market and rallied 6 per cent, as against 1.6 per cent decline in the BSE Sensex.
SBI's market capitalisation touched ₹9.45 trillion in intra-day deals on Tuesday.
Financial shares rally on Monday: In the past one week, the BSE Financial index has outperformed the market by gaining 2.2%, as compared to 0.7% rise in the BSE Sensex.
At 11:39 AM on Wednesday; the Nifty PSU Bank index was the top gainer among sectoral indices, up 1.8 per cent at 8,581.65, as compared to 0.5 per cent rise in the Nifty 50.
Over the last ten calendar years (2016-2025), the Sensex has delivered annual returns consistently, albeit uneven. The strongest year of the decade was 2017, when the index surged 27.9 per cent.
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ICICI Bank, HDFC Bank, IndusInd Bank from private lenders, and state-run SBI and Bank of Baroda look favourably placed on charts, says Aakash Shah, Technical Research Analyst of Choice Equity Broking.
The public sector lender, the analysts said, has delivered a strong performance in recent years, supported by steady business and revenue growth alongside well-contained credit costs
As of 10:45 AM, the Nifty PSU Bank index was up 1 per cent, as compared to a 0.16 per cent decline in the Nifty 50.
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At 10:25 AM; Nifty Realty and Nifty PSU Bank index were up 1 per cent each, while, Nifty Auto, Nifty Bank and Nifty Financial Services index up in the range of 0.30 per cent to 0.60 per cent.
Data shows that bank stocks such as RBL Bank, AU Small Finance Bank, Canara Bank, The South Indian Bank and City Union Bank surged over 55 per cent since the RBI first cut repo rate in February 2025.
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Nifty PSU Bank index has bounced back 55 per cent from its 52-week low level of 5,530.35 touched on March 3, 2025.
Nifty PSU Bank index hit a new high at 8,665.70, in Wednesday's intra-day trade, surpassing its previous high of 8,624.80 touched on Nov 20, 2025. The index has gained 4% in the past two trading days.
Indian Bank, Bank of Maharashtra, Bank of Baroda, Central Bank of India and Canara Bank were up in the range of 2 per cent to 3 per cent in intra-day trade on Tuesday.
SBI is now the 6th Indian firm with market value of more than ₹9 trillion; the stock has rallied 10% in the last one month on the back of better-than-expected Q2 earnings.
In the past one month, SBI has outperformed the market by surging 11 per cent, as against 2.1 per cent rise in the BSE Sensex.
Bank of Baroda, Canara Bank, Bank of India, Union Bank of India, Uco Bank, Punjab & Sind Bank, Bank of Maharashtra, Indian Overseas Bank and Indian Bank were up in the range of 2-5% in Monday's trade.