Most banking stocks opened lower on Thursday morning, tracking a broad market selloff. The BSE BANKEX fell 0.9% to 62,141.5, slightly underperforming the Nifty 50 which was down 0.75% and the Sensex which dropped 0.87%.
Broad pressure, scattered green shoots
Of the 36 banks tracked, only 9 traded in positive territory as of 9:49 AM. The selling was widespread across private and public sector banks.
Among the larger names, HDFC Bank was the weakest of the major private banks, down 1.56% to ₹803.40 on BSE. ICICI Bank fell 1.18%, while IndusInd Bank lost 1.24%. Axis Bank slipped 0.53% and Kotak Mahindra Bank was down 0.72%. SBI, the country’s largest public sector bank, lost 0.65%.
CSB Bank and RBL Bank were the sharpest fallers of the session, down 2.27% and 1.97% respectively on BSE. Jana Small Finance Bank dropped 1.62%.
A handful of gainers
City Union Bank bucked the trend, rising 1.02% — the best performer among midsize private banks. Utkarsh Small Finance Bank gained 1.51%, while Karnataka Bank and J&K Bank both added around 0.85%. Bandhan Bank, Bank of Maharashtra, Karur Vysya Bank, and Ujjivan Small Finance Bank also edged higher.
Broader context
The BANKEX is down 1.3% over the past month, though it remains 8.7% higher on a one-year basis — meaning the sector is still in positive territory for the year despite recent softness.
Prices as of 9:49 AM IST. Data sourced from BSE/NSE via user-provided feed. Not investment advice.