State Bank of India Falls Friday, Outdoes Rivals
MUMBAI — State Bank of India’s stock dropped Friday, February 28, 2025, in Mumbai trading. It fell 1.2% to ₹703.90 despite a tough day for banks. The dip came as markets worried about U.S. tariffs, but SBI still beat its competitors.
SBI Slips but Shines Bright
The broader market took a hit too. The Sensex fell 1.8%, closing at 73,198.10. The Nifty Bank index, which tracks top banks, sank 2.3%. SBI’s loss was smaller than rivals like HDFC Bank and ICICI Bank, which dropped over 2.5%. This came after SBI’s strong Q3 results earlier in February. The bank posted an 84% profit jump to ₹16,891 crore, beating forecasts.
Why did SBI hold up better? Analysts point to its solid earnings and loan growth. Domestic loans rose 14.06% year-over-year, a big win for the bank. “SBI’s strong base keeps it steady,” said Anshul Jain, head of research at Lakshmishree Investment and Securities. Still, foreign investors have sold off ₹3.11 lakh crore of Indian stocks since October 2024, adding pressure.
What’s next for SBI? Its stock sits at ₹703.90, down 5% this month. Experts see a rebound if markets calm. Investors await India’s GDP data, due soon, for clues. A strong economy could lift SBI higher, but global trade risks loom large.