SBI hits Rs 5 lakh crore market capitalisation

State-owned lender, State Bank of India (SBI) hit the Rs 5 lakh crore market capitalisation on Wednesday after its shares touched a record high of Rs 564.45.

With this market capitalisation, SBI stood on the seventh position in the market capitalisation ranking.

SBI has become the third lender in the country to cross the market cap of Rs 5 lakh crore.

HDFC Bank held first rank in this list, which was followed by ICICI Bank.

Also read | SBI to raise up to Rs 7,000 crore via Basel-III AT1 bonds

At 1.10 p.m., SBI shares were up Rs 14.75 or 2.64 per cent at Rs 573.00.

Meanwhile, Sensex was trading 126.21 points or 0.21 per cent down at 60,444.87, and Nifty was 32.90 points or 0.18 per cent down at 18,037.15.