HDFC, ICICI, SBI lose ₹50,000 crore in market cap
Business
On Wednesday, March 11, 2026, India's biggest banks, HDFC Bank, ICICI Bank, and State Bank of India, lost almost ₹50,000 crore in market value as their share prices dropped.
This sharp fall was a major reason the Nifty 50 index took a hit too.
CLSA sees over 25% upside in these banks
HDFC Bank led the drop with a 2% dip and over ₹25,000 crore wiped out. ICICI slipped by 1%, losing more than ₹10,000 crore, while SBI shed about ₹14,000 crore.
Brokerage firm CLSA projected a 25%-plus upside for HDFC and ICICI; analysts tracking these banks do not have 'sell' ratings.
No sell ratings have been given for any of these banks so far.