The banking sector stocks in India experienced significant declines on March 9, 2026, during early trading hours. Data as of approximately 9:47-9:50 AM IST showed widespread losses across major banks listed on BSE and NSE.
Key Index Performance
- The S&P BSE BANKEX Index stood at 62,272.3, down 4.2%.
- Over the last 30 days, the index had declined 7.8%, though it remained up 12.4% over the past year.
- The broader market benchmarks also fell: S&P BSE SENSEX at 76,605.63 (down 2.93%), and NIFTY 50 at 23,761.75 (down 2.82%).
Major Banking Stocks Declines
Most banking stocks traded lower, with several showing drops of 4-6% or more:
- BANK OF MAHARASHTRA: BSE 65.55 (-6.54%), NSE 65.61 (-6.45%)
- UNION BANK: BSE 176.25 (-6.52%), NSE 176.87 (-6.24%)
- BANK OF INDIA: BSE 149.80 (-6.17%), NSE 150.31 (-5.81%)
- SBI: BSE 1,073.15 (-6.16%), NSE 1,078.70 (-5.63%)
- IDBI BANK: BSE 102.20 (-6.11%), NSE 102.46 (-5.91%)
- J&K BANK: BSE 110.95 (-6.49%), NSE 111.10 (-6.34%)
- CANARA BANK: BSE 137.70 (-5.62%), NSE 138.08 (-5.41%)
- INDIAN BANK: BSE 886.45 (-5.65%), NSE 891.65 (-5.08%)
- BANDHAN BANK: BSE 173.30 (-5.27%), NSE 173.79 (-5.05%)
- KARUR VYSYA BANK: BSE 295.45 (-5.46%), NSE 295.55 (-5.44%)
- Other notable declines included BANK OF BARODA (-4.50% on BSE), INDUSIND BANK (-4.28%), AXIS BANK (-3.97%), ICICI BANK (-3.70%), and HDFC BANK (-3.37%).
Smaller declines were seen in stocks like KOTAK MAHINDRA BANK (-3.11%) and AU SMALL FINANCE BANK (-3.70%).
Sector Context
Within the banking sector, top losers included BANK OF MAHARASHTRA and UNION BANK (both down around 6.5%). Top gainers were limited, such as SURYODAY SMALL FINANCE BANK (up 0.3%) and ARMAN HOLDINGS (up 0.1%).
The declines aligned with broader market pressure, as the overall market saw sharp falls amid global factors.
This update reflects intraday data from early March 9, 2026 trading. Stock prices and indices can change rapidly during the session. For the latest information, refer to official BSE/NSE sources.