State Bank of India Hits Intraday Low Amid Price Pressure on 1 February 2026

Intraday Price Movement and Technical Context

The stock opened on a positive note but reversed sharply during the trading day, culminating in a 4.13% loss by close. The intraday low of Rs 1,034.3 marked a substantial retreat from the session’s peak. Notably, SBI’s price remains above its 20-day, 50-day, 100-day, and 200-day moving averages, indicating a longer-term uptrend. However, it is trading below its 5-day moving average, signalling short-term weakness and a potential pause in momentum.

This reversal follows four consecutive days of gains, suggesting a temporary correction after a sustained rally. The stock underperformed its sector, the Public Sector Bank segment, which itself declined by 3.56% on the day. SBI’s decline of 5.71% on a one-day basis was also sharper than the Sensex’s fall of 1.54%, highlighting its relative weakness in the current market environment.

Market Sentiment and Broader Indices

The broader market context contributed to SBI’s price pressure. The Sensex, after opening 119.19 points higher, reversed sharply to close down 1,239.80 points or 1.36% at 81,149.17. The index is trading below its 50-day moving average, although the 50-day average remains above the 200-day average, indicating mixed technical signals at the benchmark level.

Such volatility in the benchmark index reflects cautious investor sentiment, which has weighed on banking stocks in particular. SBI’s sharper decline relative to the Sensex and its sector suggests that the stock is experiencing heightened selling pressure amid the broader market pullback.

Performance Trends and Relative Strength

Despite today’s setback, SBI’s medium- and long-term performance remains robust. Over the past month, the stock has gained 4.39%, outperforming the Sensex’s 4.33% decline. Its three-month and one-year returns stand at 8.77% and 33.30%, respectively, significantly ahead of the Sensex’s negative returns over the same periods.

Year-to-date, SBI has posted a modest gain of 3.45%, contrasting with the Sensex’s 4.95% loss. Over longer horizons, the stock’s performance is even more pronounced, with a five-year return of 260.24% and a ten-year return of 464.63%, both substantially exceeding the benchmark’s gains of 75.01% and 225.71%, respectively.

These figures underscore SBI’s resilience and underlying strength despite short-term fluctuations and today’s intraday weakness.

Mojo Score and Rating Update

State Bank of India currently holds a Mojo Score of 67.0, categorised as a Hold rating. This represents an improvement from its previous Sell rating, which was revised on 11 Aug 2025. The stock’s Market Cap Grade remains at 1, reflecting its status as a large-cap entity within the Public Sector Bank industry.

The upgrade in rating indicates a stabilisation in the stock’s outlook, although the current Hold status suggests investors should monitor price action closely amid prevailing market pressures.

Sectoral and Market Pressures

The Public Sector Bank sector, to which SBI belongs, declined by 3.56% on the day, reflecting broad-based selling pressure. This sectoral weakness is consistent with the overall market’s negative trend and has contributed to SBI’s intraday losses.

While SBI’s price remains above key longer-term moving averages, the short-term dip below the 5-day moving average highlights immediate selling interest. The stock’s retreat after hitting a new 52-week high earlier in the session suggests profit-taking activity and a reassessment of valuations by market participants.

Given the Sensex’s sharp reversal and the sector’s decline, SBI’s intraday low is indicative of the prevailing cautious sentiment among investors towards banking stocks in the current environment.

Summary of Price and Performance Metrics

On 1 Feb 2026, SBI’s stock price fluctuated between a high of Rs 1,083.95 and a low of Rs 1,034.3, closing with a 4.13% loss. This contrasts with the Sensex’s 1.36% decline and the Public Sector Bank sector’s 3.56% fall. The stock’s one-day performance of -5.71% was notably weaker than the benchmark index’s -1.54%.

Over the past week, SBI’s price has declined by 1.30%, slightly more than the Sensex’s 0.65% drop. However, the stock’s longer-term returns remain strong, reflecting sustained growth over multiple time frames despite short-term volatility.

Conclusion

State Bank of India’s intraday low on 1 Feb 2026 reflects a combination of profit-taking following recent gains, sectoral weakness, and broader market volatility. While the stock remains technically supported by longer-term moving averages, the short-term price pressure and underperformance relative to the Sensex and its sector highlight the cautious market sentiment prevailing on the day.

Investors observing SBI’s price action should note the contrast between its strong historical performance and the immediate pressures that have led to today’s decline. The stock’s Hold rating and Mojo Score of 67.0 further suggest a balanced outlook amid current market conditions.

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