Bank of Baroda becomes the top-performing bank of 2022 so far!

Among the banking stocks, despite the overall bearish sentiment, the shares of Bank of Baroda have taken the top position zooming 21.9 per cent on a YTD basis.

The equity markets are having a tough time due to a global selloff that intensified owing to the US inflation print that led the Federal Reserve to the monetary tightening. On June 13, the market ended deep in red with benchmark indices losing more than 2.5 per cent each. At the same time, Nifty Bank dipped more than 3.1 per cent underperforming the benchmark indices. RBL Bank faced the worst hit after RBI appointed R Subramaniakumar as its new MD & CEO for RBL Bank. The stock crashed 22 per cent in a single day putting a major drag on the banking index. 

In 2022, so far, the benchmark indices, Sensex and Nifty have tumbled by 10.56 per cent and 10.31 per cent, respectively. On the other hand, Nifty Bank has fallen around 5.8 per cent in 2022, so far, clearly outperforming the benchmark indices. Among the banking stocks, despite the overall bearish sentiment, the shares of Bank of Baroda have taken the top position zooming 21.9 per cent on a YTD basis followed by Badhan Bank and Indian Bank gaining 21.45 per cent and 14.41 per cent. 

In the following table, we have highlighted the top ten banks according to their performance on a YTD basis -