State Bank of India Technical Analysis

Name : State Bank of India

NSE Symbol : SBIN | BSE Code : 500112

Sector : Banking – Public Sector Bank

Dear Investors,

State Bank of India was established in 1955 and is headquartered in Mumbai. It is India's largest public sector banking and financial services institution with an extensive domestic and international presence.

The bank provides retail banking corporate banking loans deposits treasury services credit cards and digital financial products. Its revenue primarily comes from interest income and banking fees. Digital banking expansion credit growth and financial inclusion provide business opportunities.

Market trend :

On 6 November 2026 SBI opened at ₹996.00 below its previous closing price of ₹1006.40. The stock recorded an intraday high of ₹1020.00 and a low of ₹990.50 before closing at ₹1018.50 with a gain of 1.20%. The Nifty 50 advanced 2.01% during the same session indicating relative underperformance. However SBI recovered from its intraday low and closed close to the day's high reflecting improved buying participation. Trading volume reached approximately 1.58 crore shares.

Financial Performance :

During FY2022 to FY2026 consolidated revenue increased from ₹289973 crore to ₹514933 crore. Revenue reached ₹350845 crore in FY2023 and ₹439189 crore in FY2024 before rising to ₹490313 crore in FY2025. Net profit increased from ₹37183 crore in FY2022 to ₹86666 crore in FY2026 reflecting sustained earnings expansion. The five-year compounded sales and profit growth stood at approximately 13% and 30%, respectively.

In Q2 FY2027 consolidated revenue reached ₹141073 crore compared with ₹127903 crore in the corresponding quarter last year. Consolidated net profit increased to ₹26218 crore from ₹21861 crore while EPS improved to ₹27.47. The bank's standalone net profit also increased 14.28% year-on-year to ₹23038 crore. On 6 November the share gained 1.20% with approximately 1.58 crore shares traded.

Technical Analysis :

SBI closed at ₹1018.50 against its 52-week high of ₹1234.70 and low of ₹933.90. RSI stood at 63.19 indicating positive momentum. MACD was positive at 4.57 against its signal line of -2.99. ADX stood near 29.9 indicating an established trend. The price traded above its 20-day 50-day and 100-day averages but remained below its 200-day average of ₹1038.57. The technical structure reflects short-term recovery with a relatively cautious longer-term trend.

Effecting Factors :

Global interest rate developments US Federal Reserve policy and economic conditions in Europe China and Japan influence international capital flows and banking sentiment. Currency movements DXY and commodity prices including crude oil and gold can affect broader financial market conditions. Domestically the Nifty 50 advanced 2.01% and Bank Nifty gained 2.27% on 6 November. India VIX increased 12.10% indicating higher expected volatility. Provisional weekly data showed foreign institutional buying alongside domestic institutional selling. SBI reported Q2 FY2027 net profit growth of 14.28% on a standalone basis and NII growth of 14.69%. Gross NPA improved to 1.39% while net NPA stood at 0.36%. ROE for H1 FY2027 was 18.68%. Credit growth deposit mobilisation and net interest margins remain important performance drivers.

Risk factor :

Key risks include rising deposit costs pressure on net interest margins credit defaults and regulatory changes. Economic slowdown may affect loan demand and repayment capacity. Interest rate fluctuations and competition may influence profitability. Asset quality and deposit mobilisation require continued monitoring.

Recommendation : Neutral Editorial Assessment – No Buy / Sell / Hold Recommendation.

Analysis Date : 7 November 2026 | Saturday