State Bank of India Hits New 52-Week High at Rs.1070.55

Strong Momentum Drives Stock to New Heights

The public sector banking giant has demonstrated robust momentum in recent sessions, with the stock gaining for three consecutive days and delivering a cumulative return of 3.86% during this period. This upward trajectory has propelled SBI well above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained buying interest and technical strength.

Today's performance saw SBI outperform its sector peers by 0.35%, underscoring its relative strength within the Public Sector Bank industry. The stock's day change registered a positive 0.72%, contributing to its ascent to the Rs.1070.55 level, a price not seen in the past year or ever before.

Over the past year, SBI has delivered an impressive 41.10% gain, significantly outpacing the Sensex's 7.06% rise over the same period. This outperformance highlights the bank's resilience and ability to capitalise on favourable market dynamics despite broader index volatility.

Market Context and Sector Performance

While SBI surged to its new high, the broader market experienced a downturn. The Sensex, after opening flat with a marginal gain of 24.28 points, declined by 430.41 points to close at 81,938.55, a drop of 0.49%. Notably, several indices including NIFTY COMMODITIES, NIFTY METAL, and NIFTY PSU BANK also reached new 52-week highs, reflecting pockets of strength within the market.

Despite the Sensex trading below its 50-day moving average, the 50DMA remains above the 200DMA, indicating a longer-term bullish trend for the benchmark index. SBI’s ability to outperform in this environment highlights its relative robustness.

Technical Indicators and Moving Averages

The stock’s position above all major moving averages is a key technical indicator of strength. Trading above the 200-day moving average is often viewed as a sign of a sustained uptrend, and SBI’s current levels confirm this positive technical setup. The 50-day moving average, a critical short-to-medium term indicator, also supports the bullish momentum, reinforcing investor confidence in the stock’s trajectory.

Furthermore, the stock’s 52-week low stands at Rs.679.65, illustrating a substantial recovery and appreciation of nearly 57.5% from its lowest point in the past year. This wide trading range underscores the stock’s volatility but also its capacity for significant gains.

Mojo Score and Recent Rating Upgrade

State Bank of India holds a Mojo Score of 67.0, categorised as a Hold grade. This represents an upgrade from a previous Sell rating, which was revised on 11 Aug 2025. The improved rating reflects enhanced market sentiment and better performance metrics observed over recent quarters.

Despite the upgrade, the Market Cap Grade remains at 1, indicating a large market capitalisation but with room for further improvement in valuation metrics. The stock’s steady climb and technical strength may be factors contributing to this positive reassessment.

Summary of Key Metrics

To summarise, State Bank of India’s stock performance as of 29 Jan 2026 is characterised by:

• New 52-week and all-time high price of Rs.1070.55


• Three consecutive days of gains, with a total return of 3.86%


• Outperformance of the Public Sector Bank sector by 0.35% on the day


• Year-on-year return of 41.10%, significantly above the Sensex’s 7.06%


• Trading above all major moving averages (5, 20, 50, 100, 200 days)


• Mojo Score of 67.0 with a Hold grade, upgraded from Sell in August 2025


• Market Cap Grade of 1, reflecting its large-cap status

This combination of strong price action, technical indicators, and improved rating underscores the stock’s current strength within the banking sector.

Broader Implications for Public Sector Banks

The rally in SBI shares coincides with a broader uptrend in the Public Sector Bank sector, as evidenced by the NIFTY PSU BANK index reaching a new 52-week high. This sector-wide strength may be attributed to improving fundamentals, regulatory developments, and macroeconomic factors supporting credit growth and asset quality.

While the overall market experienced some weakness, the resilience of SBI and its peers highlights the sector’s potential to deliver value amid fluctuating market conditions.

Conclusion

State Bank of India’s achievement of a new 52-week high at Rs.1070.55 marks a notable milestone in its stock performance. Supported by strong technical indicators, a positive rating upgrade, and sectoral momentum, the stock has demonstrated considerable strength over the past year. Its outperformance relative to the Sensex and sector peers reflects a robust market position and investor confidence in its ongoing performance.

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