The Bank Nifty index surged past key levels on Monday, inching closer to the 61,000 mark, driven by strong performances from top banking stocks. Among the frontrunners, State Bank of India (SBI) stood out with a sharp 7 percent rally, hitting a fresh 52-week high.
This movement reflects growing investor interest in major banks, highlighting a momentum shift in the financial sector. Here’s a detailed look at the market trends and performance for Monday, February 9, 2026.
Market Performance: Bank Nifty on the Rise
- The Nifty Bank index gained 756 points, closing at 60,876.20, marking its second consecutive session of strong gains.
- Overall, the banking segment showed broad-based buying interest, with several large-cap and mid-cap banks contributing to the upward momentum.
The surge underscores the market’s focus on banking fundamentals, with public sector banks taking the lead in driving sentiment.
SBI Shares Rally After Record Q3 Results
SBI shares emerged as the top performers on the Bank Nifty. Key highlights include:
- Stock performance: Up 7%, closing at Rs 1,143.70, reaching a 52-week high.
- Quarterly net profit: ₹21,028.15 crore, up 24.49% YoY. This marks SBI’s highest-ever quarterly net profit.
- Net interest income (NII): ₹45,190 crore, reflecting a 9% increase YoY from ₹41,445 crore last year.
The strong Q3 results indicate that SBI continues to generate robust core income while maintaining steady growth in its lending operations.
Other Key Bank Movers
While SBI led the charge, other banking stocks also contributed to the Bank Nifty’s upward trajectory:
- IndusInd Bank: +2.5%
- Kotak Mahindra Bank, Yes Bank, Union Bank of India, AU Small Finance Bank: Gained more than 1% each
- Bank of Baroda, Punjab National Bank (PNB): Around 1% gains
- Canara Bank, Axis Bank: Marginal gains
"On the other hand, a few private banks saw slight declines, with Federal Bank, IDFC First Bank, HDFC Bank, and ICICI Bank posting marginal losses, reflecting a mixed trend in the sector."
Summary: Bank Nifty Momentum Continues
The Bank Nifty’s march toward 61,000 reflects strong market interest in large-cap banks, especially those with robust quarterly results. SBI’s record-breaking Q3 earnings were a clear highlight, sparking confidence among investors.
With the index holding above key psychological levels, the banking sector continues to attract attention. Market participants are closely watching how major banks perform in the upcoming sessions, as momentum from heavyweight stocks like SBI drives the broader index.
Source: Moneycontrol
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