Shares of State Bank of India (SBI) fell 5.60% to Rs 1,079.40 on the National Stock Exchange (NSE) during the trading session on March 9, 2026. This decline resulted in a significant loss of nearly Rs 62,352 crore in market capitalisation, bringing SBI’s valuation below the Rs 10 lakh crore mark to approximately Rs 9.93 lakh crore.

The stock opened at Rs 1,111.10, a decrease from its previous close of Rs 1,143.55. Throughout the session, SBI’s shares touched an intraday high of Rs 1,113.60 and a low of Rs 1,064.25, indicating a volatile trading day.

SBI’s performance is particularly notable when considering its 52-week high of Rs 1,234.80 and a low of Rs 719.20, highlighting the fluctuations in its stock price over the past year.

The decline in SBI shares coincided with a broader sell-off in Indian equities, triggered by rising geopolitical tensions involving Iran, Israel, and the United States, which have led to increased crude oil prices. This wider market weakness was reflected in the BSE PSU Bank index, which fell by 5.65%.

As of now, SBI holds a price-to-earnings (P/E) ratio of 12.97 and a price-to-book (P/B) ratio of 2.14, indicating its current valuation metrics in the market.

Market observers are closely monitoring the situation, as the implications of these geopolitical tensions on the financial markets continue to unfold. The overall sentiment in the market remains cautious, with investors weighing the potential impacts on various sectors.

Details remain unconfirmed regarding any specific measures that SBI may take in response to this decline or the broader market conditions.

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What has caused the recent decline in SBI shares? On March 9, 2026, SBI shares fell by 5.60%, closing at Rs 1,079.40 on the National Stock Exchange (NSE). This drop has raised concerns among investors as it wiped out nearly Rs 62,352 crore in market capitalisation.

The decline in share price has brought SBI’s valuation below Rs 10 lakh crore, now estimated at around Rs 9.93 lakh crore. The shares opened at Rs 1,111.10, down from the previous close of Rs 1,143.55, and fluctuated between an intraday high of Rs 1,113.60 and a low of Rs 1,064.25.

Historically, SBI shares have seen a 52-week high of Rs 1,234.80 and a low of Rs 719.20, indicating significant volatility in recent months. Despite this, SBI reported a net profit of Rs 21,028 crore in the December 2025 quarter, reflecting a 24.5% year-on-year growth, which suggests that the bank’s fundamentals remain strong.

Motilal Oswal Financial Services has maintained a Buy rating for SBI, indicating confidence in the bank’s long-term prospects. However, the recent decline appears to be linked more to overall market weakness rather than any fundamental issues within the bank itself.

The backdrop to this decline includes a broader sell-off in Indian equities, driven by geopolitical tensions involving Iran, Israel, and the United States, which have contributed to rising crude oil prices. This external factor has likely influenced investor sentiment and market dynamics.

As the market continues to react to these geopolitical developments, the future trajectory of SBI shares remains uncertain. Investors will be closely monitoring both the bank’s performance and the broader economic environment in the coming weeks.

Details remain unconfirmed regarding any further impacts on SBI’s operations or share price, as market conditions evolve.

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