Market Overview - The BSE PSU Bank index fell by 5.65% due to heavy selling pressure in Indian equities, driven by escalating geopolitical tensions involving Iran, Israel, and the United States [1][9] - The conflict has led to an increase in crude oil prices, raising concerns about the impact on the Indian rupee and overall macroeconomic stability, resulting in negative performance across all sectoral indices [1][9] Company Performance - State Bank of India (SBI) shares declined by 5.60% to Rs 1,079.40, resulting in a market capitalisation loss of approximately Rs 62,352 crore, bringing its total market capitalisation to around Rs 9.93 lakh crore [9] - SBI's 14-day Relative Strength Index (RSI) is at 47.2, indicating a broadly neutral momentum with a slight negative bias [2][10] - The stock is trading below five of its eight key simple moving averages (SMAs), suggesting near-term bearish sentiment, but remains above longer-term 100-day, 150-day, and 200-day SMAs, indicating broader trend support [5][10] Financial Performance - SBI reported a net profit of Rs 21,028 crore for the December 2025 quarter, reflecting a 24.5% year-over-year growth, indicating stable operational performance [7][10] - The bank's current price-to-earnings (P/E) ratio is 12.97, and the price-to-book (P/B) ratio is 2.14, suggesting relatively reasonable valuations compared to the broader market [7][10] Institutional Holdings - Foreign Portfolio Investors (FPIs) increased their stake in SBI from 9.57% in the September 2025 quarter to 10.34% in the December 2025 quarter, indicating growing interest from overseas investors [8][10] - Conversely, mutual funds slightly reduced their holdings from 14.23% to 13.76% during the same period [8][10]
SBI shareholders lose Rs 62,350 crore as stock falls nearly 6% in market sell-off
The Economic Times·2026-03-09 05:20