New Delhi:
Today, both stock market indices have surged significantly, propelling the stock prices upward.
The State Bank of India (SBI), the largest government bank in the country, experienced a notable increase in its stock value, reaching over Rs 900 per share.
This surge has contributed to a substantial rise in SBI’s market capitalization.
SBI’s Market Capitalization Milestones
Crossing the Rs 8 Lakh Crore Mark
On 3 June 2024, SBI achieved a significant milestone as its market capitalization surpassed Rs 8 lakh crore. Notably, this achievement follows another milestone earlier in the year when SBI’s market cap exceeded Rs 7 lakh crore on 7 March 2024.
SBI Share Performance
Trading Trends
At 9.15 am today, SBI shares opened at Rs 867.05 per share and continued to rise steadily throughout the day. By 2.20 pm, SBI shares were trading at Rs 905.00 per share, marking an increase of 74.65 points or 8.99 percent.
Historical Performance
Positive Returns
In terms of performance, SBI’s shares have delivered promising returns. Year-to-date, SBI shares have yielded a positive return of 40 percent. Over the last six months, the bank’s shares have shown a return of 52.18 percent, while over the past year, they have surged by 54.12 percent.
SBI’s Position in the Banking Landscape
Global Standing
Ranked third globally by bank value, State Bank of India holds a prominent position in the banking sector. In the Indian market, HDFC Bank leads in terms of market capitalization, followed by ICICI Bank in second place.
