Intraday Trading Highlights
The stock opened with a significant gap-up of 5.56%, signalling strong buying interest from the outset. Throughout the trading session, SBI maintained its upward trajectory, touching an intraday high of Rs 1090, which represents a 5.98% increase on the day. By close, the stock recorded a day change of 3.07%, outperforming the broader Sensex, which gained 2.97% during the same period.
SBI’s performance also outpaced its sector peers, with the Public Sector Bank segment gaining 2.58% on the day. The stock outperformed the sector by 0.49%, underscoring its relative strength within the banking industry.
Technical Positioning and Moving Averages
Technically, SBI is trading comfortably above all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This alignment suggests a sustained positive trend and strong underlying market support. The stock has also recorded consecutive gains over the last two sessions, accumulating a 4.21% return during this period.
The upward momentum is further supported by SBI’s Mojo Score of 67.0, which places it in the 'Hold' category, an upgrade from its previous 'Sell' rating as of 11 August 2025. Despite the moderate Mojo Grade, the stock’s recent price action reflects renewed investor confidence and market interest.
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Comparative Performance Over Various Timeframes
Examining SBI’s performance relative to the Sensex reveals a strong outperformance across multiple time horizons. Over the past one year, SBI has delivered a remarkable 39.42% return compared to the Sensex’s 8.96%. Year-to-date, the stock has gained 8.02%, while the Sensex has declined by 1.31%. Over three years, SBI’s returns stand at 94.88%, significantly higher than the Sensex’s 38.23%. Even on a longer-term basis, the stock has appreciated 215.91% over five years and an impressive 538.96% over ten years, compared to the Sensex’s 67.35% and 247.20% respectively.
These figures highlight SBI’s sustained growth and resilience in the public sector banking domain, reinforcing its status as a key market leader.
Market Context and Sector Activity
On the broader market front, the Sensex opened sharply higher by 3,656.74 points but lost momentum to close at 84,091.54, down by 1,231.66 points or 2.97%. Despite this volatility, mega-cap stocks led the market gains, with the Sensex closing just 2.46% below its 52-week high of 86,159.02. The index is currently trading below its 50-day moving average, although the 50-day average remains above the 200-day average, indicating a mixed technical picture.
Within this environment, SBI’s outperformance is notable, especially given the banking sector’s overall gain of 2.58% on the day. The stock’s ability to maintain gains amid broader market fluctuations underscores its relative strength.
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Market Capitalisation and Ratings Update
SBI holds a Market Cap Grade of 1, reflecting its status as a large-cap heavyweight in the Indian banking sector. The recent upgrade in its Mojo Grade from 'Sell' to 'Hold' on 11 August 2025 indicates an improvement in its fundamental and technical parameters as assessed by MarketsMOJO’s proprietary scoring system.
The stock’s current Mojo Score of 67.0 suggests a moderate outlook, balancing its strong price momentum with other financial and market factors. This nuanced rating provides a comprehensive view of SBI’s standing within the public sector banking industry.
Summary of Trading Action
In summary, State Bank of India’s trading session on 3 February 2026 was marked by a strong intraday surge, culminating in a new 52-week and all-time high of Rs 1090. The stock’s gap-up opening and sustained gains throughout the day reflect robust demand and positive market sentiment. Its outperformance relative to the Sensex and sector peers, combined with favourable technical indicators, underscores its current strength in the market.
While the broader market experienced volatility and a late-session pullback, SBI maintained its upward momentum, supported by solid moving average positioning and a positive trend over recent sessions. This performance adds to the stock’s impressive multi-year track record of returns, reinforcing its prominence in the public sector banking space.
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