Key Events This Week
05 Jan: New 52-week and all-time high at Rs.1,013
06 Jan: Fresh 52-week and all-time high at Rs.1,015.5
07 Jan: Price correction amid mixed market signals
09 Jan: Week closes at Rs.1,000.00 (+0.07%)
Monday, 05 January 2026: New 52-Week and All-Time Highs Signal Strong Momentum
On Monday, SBI’s stock price surged to Rs.1,013, marking a new 52-week and all-time high. This represented a 0.60% gain from the previous Friday’s close of Rs.999.35. The stock outperformed the Sensex, which declined 0.18% to 37,730.95. The day’s volume of 574,850 shares reflected solid investor interest.
This milestone capped a five-day consecutive gain streak, with the stock appreciating approximately 4.69% over that period. The price action was supported by the stock trading above all key moving averages, signalling strong technical momentum. SBI’s one-year price appreciation of 27.79% notably outpaced the Sensex’s 8.33% gain, underscoring the stock’s relative strength within the public sector banking sector.
Tuesday, 06 January 2026: Fresh Highs Amid Market Weakness
SBI extended its rally on Tuesday, hitting a new 52-week and all-time high of Rs.1,015.5, a 1.33% increase from Monday’s close. This gain came despite the Sensex falling 0.19% to 37,657.70, highlighting SBI’s resilience amid broader market softness. The stock’s volume rose to 696,022 shares, indicating sustained buying interest.
The six-day consecutive gain period culminated in a cumulative return of 5.09%. The stock’s technical positioning remained robust, trading above all major moving averages, which supported the bullish trend. SBI’s one-year total return of 30.67% significantly outperformed the Sensex’s 9.26% over the same period, reinforcing its leadership within the banking sector.
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Wednesday, 07 January 2026: Price Correction Amid Mixed Market Signals
Wednesday saw a reversal in SBI’s price trend, with the stock declining 1.14% to Rs.1,007.10 on volume of 522,691 shares. This pullback coincided with a modest 0.03% gain in the Sensex, which closed at 37,669.63. The correction followed the strong gains earlier in the week and may reflect profit-taking or short-term market volatility.
Despite the dip, SBI remained well above key moving averages, maintaining a positive technical outlook. The stock’s ability to absorb this correction without significant weakness suggests underlying investor confidence in its fundamentals and growth prospects.
Thursday, 08 January 2026: Continued Weakness as Market Falls Sharply
On Thursday, SBI’s share price declined further by 0.92% to Rs.997.85, with volume increasing to 717,133 shares. This drop occurred alongside a sharp 1.41% fall in the Sensex to 37,137.33, reflecting broader market weakness. The stock’s decline was in line with sectoral and market pressures, though it remained near the Rs.1,000 level, a key psychological support.
The increased volume on the down day may indicate some selling pressure, but the stock’s technical indicators remained intact, trading above its 50-day and 200-day moving averages, which often act as support levels.
Friday, 09 January 2026: Modest Recovery to Close the Week
Friday saw a slight recovery in SBI’s price, which rose 0.22% to close at Rs.1,000.00 on volume of 508,305 shares. The Sensex continued its decline, falling 0.89% to 36,807.62. SBI’s relative outperformance over the week, with a 0.07% gain versus the Sensex’s 2.62% loss, highlights the stock’s defensive qualities amid a challenging market environment.
The week’s price action reflects a consolidation phase following the strong rallies earlier in the week, with the stock maintaining a base near the Rs.1,000 mark. This level may serve as a foundation for future price stability.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-01-05 | Rs.1,005.35 | +0.60% | 37,730.95 | -0.18% |
| 2026-01-06 | Rs.1,018.75 | +1.33% | 37,657.70 | -0.19% |
| 2026-01-07 | Rs.1,007.10 | -1.14% | 37,669.63 | +0.03% |
| 2026-01-08 | Rs.997.85 | -0.92% | 37,137.33 | -1.41% |
| 2026-01-09 | Rs.1,000.00 | +0.22% | 36,807.62 | -0.89% |
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Key Takeaways from the Week
Positive Signals: SBI’s ability to reach new 52-week and all-time highs on consecutive days early in the week demonstrated strong technical momentum and investor confidence. The stock’s outperformance relative to the Sensex, which declined sharply over the week, highlights its defensive qualities and sector leadership. The upgrade in mojo grade to ‘Hold’ and a Mojo Score of 67.0 reflect improved fundamentals and market perception.
Cautionary Notes: The midweek price correction and increased volume on down days suggest some profit-taking and short-term volatility. The broader market weakness, with the Sensex falling 2.62%, indicates a challenging environment that could weigh on SBI’s near-term price action. Investors should monitor the Rs.1,000 level as a key support zone.
Conclusion
State Bank of India’s performance in the week ending 09 January 2026 was characterised by early-week strength, marked by new 52-week and all-time highs, followed by a modest correction and consolidation. The stock’s marginal weekly gain of 0.07% contrasted favourably with the Sensex’s 2.62% decline, underscoring SBI’s relative resilience amid a volatile market backdrop. Supported by strong technical indicators and an improved mojo rating, SBI remains a key player in the public sector banking space. The stock’s ability to maintain support near Rs.1,000 will be critical for sustaining momentum in the coming weeks.
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