Nifty Bank Historical Returns
The Nifty Bank index tracks the most liquid and largest Indian bank stocks, private and public sector. Figures come from the NAV of a fund that tracks it, so returns include dividends and are after fund costs.
Price history
Month-end values. Hover a year-end point for its value.
About Nifty Bank
The Nifty Bank index tracks the most liquid and largest Indian bank stocks, private and public sector.
What it means for investors. Banks are the largest sector in the Nifty 50, so this index often drives the broad market. It tends to react to interest rates, credit growth and loan quality.
Returns over time
| Series | 1Y | 3Y | 5Y | 10Y | 15Y | 20Y | Max fall | Data to |
|---|---|---|---|---|---|---|---|---|
| Nifty Bank | −1.2% | 7.5% | 8.5% | 11.2% | n/a | n/a | −49% | 1 Oct 2026 |
Annualised (CAGR) for periods of a year or more, ending on each series' latest date. “n/a” means the series does not go back that far. Max fall: the largest fall from a previous peak over the whole history.
AMFI NAV history (daily NAV file; earlier history via mfapi.in, which republishes AMFI NAVs), stored and cleaned by MFIC. Proxy: Kotak Nifty Bank ETF (total return after fund costs (proxy)). Data 10 Dec 2014 to 1 Oct 2026. Latest level: NSE daily index closing values. Returns use the fund NAV history, which includes dividends.
Calendar-year returns
| Year | Return |
|---|---|
| 2026 to 1 Oct | −8.2% |
| 2025 | 17.9% |
| 2024 | 6.0% |
| 2023 | 13.0% |
| 2022 | 21.8% |
| 2021 | 13.6% |
| 2020 | −4.4% |
| 2019 | 18.7% |
| 2018 | 6.6% |
| 2017 | 41.2% |
| 2016 | 8.2% |
| 2015 | −8.9% |
Over 11 complete calendar years since 2015, Nifty Bank rose in 9. Best: 2017 (+41.2%). Worst: 2015 (−8.9%).
Year-end to year-end, from AMFI NAV history (daily NAV file; earlier history via mfapi.in, which republishes AMFI NAVs), stored and cleaned by MFIC.
Falls from peak and recovery
| Peak | Bottom | Fall | Months down | Back to peak | Months to recover | Events in the fall |
|---|---|---|---|---|---|---|
| Feb 2026 | Mar 2026 | −18.3% | 1 | not yet | — | — |
| Sep 2024 | Mar 2025 | −12.1% | 5 | Apr 2025 | 1 | — |
| Dec 2022 | Mar 2023 | −11.4% | 3 | May 2023 | 2 | — |
| Oct 2021 | Jun 2022 | −20.6% | 8 | Sep 2022 | 3 | Russia–Ukraine war begins; RBI off-cycle rate hike |
| Feb 2021 | Apr 2021 | −17.5% | 2 | Sep 2021 | 5 | — |
| Jan 2020 | Mar 2020 | −48.5% | 3 | Feb 2021 | 10 | COVID-19 declared a pandemic |
| Jun 2019 | Sep 2019 | −15.2% | 4 | Nov 2019 | 2 | — |
| Aug 2018 | Oct 2018 | −13.7% | 3 | Mar 2019 | 5 | NBFC sell-off |
| Jan 2018 | Mar 2018 | −13.9% | 2 | Jul 2018 | 4 | Union Budget 2018 |
| Sep 2016 | Dec 2016 | −13.6% | 4 | Feb 2017 | 2 | Demonetisation |
| Jan 2015 | Feb 2016 | −33.5% | 13 | Sep 2016 | 6 | Yuan devaluation |
Each fall of 10% or more from a previous high, measured on daily data. The 11 deepest are shown. “Back to peak” is the first date it regained the previous high.
Rolling returns: the range of outcomes
| Holding period | Periods | Median | Worst | Best | Middle half | Positive |
|---|---|---|---|---|---|---|
| 1 year | 130 | 13.0% | −39.1% | 83.4% | 3.9% to 20.6% | 82% |
| 3 years | 106 | 12.3% | −6.4% | 32.1% | 9.2% to 15.3% | 92% |
| 5 years | 82 | 11.1% | 0.8% | 24.1% | 9.8% to 14.0% | 100% |
| 10 years | 22 | 12.3% | 9.9% | 16.1% | 11.7% to 12.8% | 100% |
Every holding period starting at a month-end in the history (overlapping). Annualised for periods over a year.
How it has moved with other assets
| Compared with | Correlation | Months |
|---|---|---|
| Nifty 50 | 0.88 | 141 |
| Gold (domestic, ₹) | −0.11 | 141 |
| 10-year G-Sec (bond fund) | 0.09 | 141 |
| USD/INR | −0.47 | 141 |
| Nifty PSU Bank | 0.78 | 141 |
| Nifty IT | 0.14 | 75 |
Correlation of monthly returns over the months both series have: +1 moves together, 0 unrelated, −1 opposite. Relationships change over time.
Nifty Bank and the Nifty 50, year by year
| Year | Nifty Bank | Nifty 50 |
|---|---|---|
| 2026 to 1 Oct | −8.2% | −13.6% |
| 2025 | 17.9% | 11.6% |
| 2024 | 6.0% | 9.6% |
| 2023 | 13.0% | 20.9% |
| 2022 | 21.8% | 5.3% |
| 2021 | 13.6% | 25.2% |
| 2020 | −4.4% | 15.5% |
| 2019 | 18.7% | 13.2% |
| 2018 | 6.6% | 4.3% |
| 2017 | 41.2% | 29.7% |
| 2016 | 8.2% | 4.0% |
| 2015 | −8.9% | −3.3% |
| 2014 part year | 1.4% | 31.8% |
Fund NAVs (AMFI), after fund costs.
Questions
- What has Nifty Bank returned over the long run?
- Calculated from Kotak Nifty Bank ETF, Nifty Bank returned 11.2% a year over the 10 years to 1 Oct 2026, and 7.5% a year over 3 years. Past returns do not indicate future returns.
- What was the biggest fall in Nifty Bank?
- In the data available from Dec 2014, the largest fall from a previous peak was −48.5%, from Jan 2020 to Mar 2020, and it regained the peak in Feb 2021 (10 months after the bottom). There were 11 falls of 10% or more, 3 of them 20% or more.
- How often has Nifty Bank been positive over one year?
- Across 130 one-year periods starting at month-ends, 82% were positive; the range was −39.1% to 83.4%. Over five-year periods (82), 100% were positive, with annualised returns from 0.8% to 24.1%.
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