Indian banking stocks declined broadly in early trade today, with the S&P BSE BANKEX index falling 1.8% to 59,371.4 as of morning hours on March 27, 2026. The index has now lost 13.4% over the past 30 days and is down 0.5% on a one-year basis.
Which Banking Stocks Fell the Most Today?
Among the steepest losers in early trade:
- Canara Bank dropped 3.52% on BSE (₹131.75) and 3.46% on NSE (₹131.81)
- Bank of Baroda fell 3.47% on BSE (₹263.25) and 3.52% on NSE (₹263.10)
- Union Bank of India declined 3.27% on BSE (₹174.50) and 3.18% on NSE (₹174.59)
- IDBI Bank was down 3.13% on BSE (₹65.10) and 3.26% on NSE (₹64.96)
- Bank of India slipped 3.01% on BSE (₹144.95) and 2.98% on NSE (₹145.05)
PSU Banks Lead the Decline
Public sector banks bore the brunt of today’s selloff. Canara Bank, Bank of Baroda, Union Bank, Bank of India, Indian Bank, PNB, and UCO Bank all registered losses of 2.5% or more on both exchanges. IDBI Bank also fell sharply.
Private Banks: Moderate Losses
Large private banks fell, but less steeply:
- HDFC Bank: ₹764.40 on BSE (−2.21%), ₹763.85 on NSE (−2.36%)
- ICICI Bank: ₹1,253.90 on BSE (−0.47%), ₹1,255.60 on NSE (−0.33%) — among the most resilient today
- Axis Bank: ₹1,205.05 on BSE (−1.42%), ₹1,206.90 on NSE (−1.24%)
- Kotak Mahindra Bank: ₹364.55 on BSE (−1.82%)
- IndusInd Bank: ₹801.60 on BSE (−2.02%)
Small Finance Banks Also Under Pressure
Small finance banks saw notable declines:
- Ujjivan Small Finance Bank: −2.81% on BSE (₹52.94)
- AU Small Finance Bank: −1.90% on BSE (₹893.00)
- Equitas Small Finance Bank: −1.91% on BSE (₹55.90)
- Bandhan Bank: −1.89% on BSE (₹150.55)
The Only Gainer: Tamilnad Mercantile Bank
Tamilnad Mercantile Bank was the sole stock in positive territory today, gaining 0.94% on BSE (₹609.25) and 1.06% on NSE (₹609.95).
Broader Market Context
The Nifty 50 was trading at 23,039.25, down 1.15%, while the S&P BSE Sensex stood at 74,413.05, also down 1.14%, indicating that the banking sector decline was part of a broader market-wide fall today.