Banking sector stocks traded lower on February 13, tracking weakness in the broader market. As of 10:00 AM (IST), both the benchmark indices — the NIFTY 50 and the S&P BSE SENSEX — were down 1.06% and 0.91%, respectively, reflecting cautious sentiment across equities.
PSU Banks See Broad-Based Decline
Public sector banks were largely in the red during early trade. Shares of Bank of Baroda fell 1.26% on NSE to ₹286.20, while Punjab National Bank declined 1.53% to ₹119.11. Canara Bank slipped 1.53% to ₹142.59, and Union Bank of India was down 0.85% at ₹179.47.
Bank of India dropped 1.68% to ₹162.51, while Indian Overseas Bank declined 1.19% to ₹34.78. UCO Bank and Punjab & Sind Bank also traded lower by 1.32% and 1.42%, respectively.
However, Bank of Maharashtra bucked the trend, rising marginally by 0.05% on NSE to ₹65.62.
Private Sector Banks Trade Mixed
Among private lenders, HDFC Bank traded 0.33% higher at ₹923.65, while ICICI Bank declined 0.20% to ₹1,427.10. Axis Bank fell 1.14% to ₹1,324.70.
Kotak Mahindra Bank was down 0.38% at ₹424.65, and IndusInd Bank slipped 1.15% to ₹912.05.
State-run lender State Bank of India remained largely flat, trading 0.09% higher on NSE at ₹1,193.50.
Small Finance and Mid-Sized Banks Under Pressure
Small finance banks witnessed sharper cuts in early trade. Equitas Small Finance Bank fell 2.26% to ₹67.32, while Bandhan Bank declined 2.03% to ₹166.10. IDFC First Bank dropped 2.02% to ₹80.49.
AU Small Finance Bank was down 1.16% at ₹989.00, and Ujjivan Small Finance Bank slipped 1.59% to ₹61.70. Utkarsh Small Finance Bank declined 1.53% to ₹13.56.
Fino Payments Bank saw one of the steepest cuts, falling 1.48% on NSE to ₹222.79.
On the other hand, South Indian Bank gained 1.34% to ₹40.69, emerging as a notable gainer within the segment.