The stock price of SBI hit a new high of ₹1,083.95 on the BSE in Sunday's intra-day trade and has rallied 10% thus far in the calendar year 2026.
A technical scan on Nifty 500 stocks reveals that 6 shares were trading in overbought territory based on the RSI parameter, while 66 languished in the oversold zone a day ahead of the Union Budget.
S&P Global Market Intelligence data compiled on January 21 shows that three Indian banks account for a major share of regional upside potential, even as several peers trade closer to fair value.
In the past six months, the stock price of SBI has surged 31 per cent, as compared to 10.2 per cent decline in market price of ICICI Bank and 8.6 per cent fall in HDFC Bank.
SBI stock has outperformed in January with a gain of 7 per cent thus far. The bank's chairman expects private investment to rebound once global trade and US tariff-related disruptions settle.
Since October 2025, Bank of India, Union Bank of India and Canara Bank have surged between 29 - 34 per cent. FPIs have increased stake in select PSU Banks by up to 3 per centage points.
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.
Stocks to Watch today, December 03: Shares of SBI, HDFC Bank, and ICICI Bank will remain in focus today as RBI has announced that they will continue to be classified as systemically important banks