Nifty Bank Falls 0.61% on June 8, 2026; Federal Bank and SBI Bank Lead Gainers

The Nifty Bank Index declined by 333.85 points, or 0.61%, to close at 54,162.40 on June 8, 2026. The index had settled at 54,496.25 in the previous session. During the day, it opened at 53,853.45, touched an intraday high of 54,455.20, and recorded a low of 53,843.30. Market breadth remained weak, with only two stocks advancing while twelve stocks declined.

The index currently trades at a price-to-earnings (P/E) ratio of 13.74 and a price-to-book (P/B) ratio of 1.77. Over the past 52 weeks, the index has moved between a low of 49,954.85 and a high of 61,764.85.

Nifty Bank Performance Remains Weak

Nifty Bank has delivered mixed returns across different time periods. The index gained 0.97% over the past week, but declined 2.08% in 1 month, 6.27% in 3 months, and 8.57% in 6 months. On a year-to-date basis, it is down 9.29%, while the 1-year return stands at -4.27%. Despite the recent weakness, the index has generated 23.11% returns over three years and 54.37% over five years.

HDFC Bank and ICICI Bank Drag the Index

The decline in Nifty Bank was largely driven by weakness in major private-sector lenders. HDFC Bank, the largest constituent of the index, fell 1.51% to ₹735.80, while ICICI Bank declined 0.79% to ₹1,252.10. Axis Bank slipped 0.18%, and Kotak Mahindra Bank edged lower by 0.13%. Together, these heavyweights account for a significant portion of the index and exerted pressure on overall performance.

Top Gainers and Losers in the Banking Index

A few banking stocks managed to trade in positive territory despite the broader weakness. Federal Bank emerged as one of the top gainers, rising 0.81% to ₹306.60. State Bank of India (SBI) also advanced 0.52% to ₹982.75. These gains helped limit the decline in the index.

Among the laggards, Canara Bank was the worst performer, falling 2.18% to ₹132.85. Other notable losers included HDFC Bank (-1.57%), Bank of Baroda (-1.08%), ICICI Bank (-0.79%), and IndusInd Bank (-0.77%). Selling pressure across both public and private sector banks weighed on sentiment.

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About the Nifty Bank Index

The Nifty Bank Index tracks the performance of the most liquid and large banking stocks listed on the National Stock Exchange (NSE). The index consists of up to 14 banking companies and is calculated using the free-float market capitalisation method. It serves as a benchmark for banking sector performance and is widely used for index funds, ETFs, derivatives, and other structured investment products. The index follows the Nifty Bank Total Returns Index (TRI) variant and is rebalanced on a semi-annual basis.

Conclusion

Nifty Bank ended the session in the red as losses in major banking stocks, particularly HDFC Bank and ICICI Bank, outweighed gains in SBI and Federal Bank. While the index has faced pressure in recent months and remains down over the short and medium term, its long-term performance continues to reflect the strength of India's banking sector. Investors will closely monitor interest rate trends, credit growth, and upcoming earnings announcements for further direction in banking stocks.

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