Indian banking stocks presented a mixed picture on April 28, 2026, with the S&P BSE BANKEX Index trading at 63,170.0, down 0.3% in morning trade. The broader market benchmarks — S&P BSE SENSEX at 77,261.64 (–0.05%) and Nifty 50 at 24,101.90 (+0.04%) — were largely flat, reflecting cautious sentiment across segments.
Prices below are as of approximately 9:37–9:40 AM IST.
Top Gainers — Banking Stocks (April 28, 2026)
Several banking counters bucked the broader weakness and posted notable gains in early trade:
City Union Bank was the standout gainer, rising 4.79% on BSE (Rs 284.35) and 4.90% on NSE (Rs 284.51).
Tamilnad Mercantile Bank advanced 4.53% on BSE (Rs 734.20) and 5.08% on NSE (Rs 732.70), making it one of the top-performing banking stocks of the session.
RBL Bank gained 2.51% on BSE (Rs 320.60) and 3.52% on NSE (Rs 323.80).
Karnataka Bank rose 1.26% on BSE (Rs 257.60) and 1.90% on NSE (Rs 259.14).
AU Small Finance Bank added 0.82% on BSE (Rs 1,052.00) and 0.48% on NSE (Rs 1,048.05).
CSB Bank moved up 1.13% on BSE (Rs 401.45) and 0.93% on NSE (Rs 400.30).
Kotak Mahindra Bank edged higher by 0.99% on BSE (Rs 380.65) and 1.01% on NSE (Rs 380.60).
Karur Vysya Bank gained 0.91% on BSE (Rs 300.45) and 0.82% on NSE (Rs 300.25).
Jana Small Finance Bank rose 0.97% on BSE (Rs 481.00) — the stock is not listed on NSE.
Top Losers — Banking Stocks (April 28, 2026)
Public sector banks (PSBs) bore the brunt of selling pressure in morning trade:
Bank of India was the biggest decliner, falling 2.30% on BSE (Rs 144.15) and 2.44% on NSE (Rs 143.91).
Punjab & Sind Bank dropped 1.68% on BSE (Rs 25.22) and 1.79% on NSE (Rs 25.24).
Union Bank of India fell 1.59% on BSE (Rs 173.30) and 1.82% on NSE (Rs 172.90).
Bank of Baroda declined 1.55% on BSE (Rs 269.70) and 1.89% on NSE (Rs 268.80).
Bank of Maharashtra shed 1.47% on BSE and NSE (Rs 78.58).
Canara Bank slipped 1.85% on BSE (Rs 137.90) and 1.96% on NSE (Rs 137.76).
J&K Bank fell 1.12% on BSE (Rs 127.70) and 1.42% on NSE (Rs 127.38).
Punjab National Bank (PNB) dropped 1.19% on BSE (Rs 112.55) and 1.33% on NSE (Rs 112.37).
Large-Cap Private Banks — Price Update
HDFC Bank was nearly flat at Rs 789.40 on BSE (–0.06%) and Rs 788.90 on NSE (–0.11%).
ICICI Bank dipped marginally to Rs 1,312.00 on BSE (–0.23%) and Rs 1,311.20 on NSE (–0.22%).
Axis Bank declined 0.39% on BSE (Rs 1,319.40) and 0.51% on NSE (Rs 1,317.40).
IndusInd Bank was down 0.61% on BSE (Rs 894.45) and 0.85% on NSE (Rs 892.50).
SBI fell 0.66% on BSE (Rs 1,104.50) and 0.76% on NSE (Rs 1,103.45).
Key Observations
Public sector banks underperform: PSBs such as Bank of India, Canara Bank, Bank of Baroda, Union Bank, and PNB were among the notable decliners in early trade, while private and mid-sized banks showed a more mixed trend.
Mid-size and regional private banks outperform: City Union Bank, Tamilnad Mercantile Bank, Karnataka Bank, and Karur Vysya Bank — all regional private banks — posted gains, suggesting selective buying in smaller private lenders.
Large-cap private banks steady: HDFC Bank, ICICI Bank, and Axis Bank moved in a narrow range, broadly in line with the flat Sensex and Nifty.
Index context: The S&P BSE BANKEX at 63,170.0 (–0.3%) underperformed the broader Sensex (–0.05%), reflecting the sectoral weight of public sector banks.
Disclaimer
This article is for informational purposes only and is based on early morning trade data (BSE: 9:37 AM IST, NSE: 9:39 AM IST) on April 28, 2026. Stock prices are subject to change throughout the trading session. This is not investment advice. Please consult a registered financial advisor before making investment decisions.