The stock price of SBI (State Bank of India) dropped by ₹18.45 or 2.40% on Monday, April 7, to finish at ₹749.00 as investor sentiment weakened across the Indian stock market. SBI stock price declined in line with other benchmark indices such as Sensex and Nifty which experienced significant losses during trading.
The banking sector experienced heavy selling pressure during which SBI emerged as one of the leading decliners. The stock market decline resulted from rising international tensions and fears of a recession which originated from foreign trade news. The market’s risk appetite took a hit, driving down shares of large-cap banks and financial institutions.
The market experts view SBI as a fundamentally strong player with long-term growth potential despite the current market conditions. The short-term market will experience volatility because of worldwide macroeconomic factors and investors’ cautious stance.
The banking index will closely monitor SBI’s performance in the upcoming days because of how the market responds to international market movements and domestic earnings reports.
