Nifty Private Bank Historical Returns
The Nifty Private Bank index tracks private-sector banks.
Price history
Month-end values. Hover a year-end point for its value.
About Nifty Private Bank
The Nifty Private Bank index tracks private-sector banks.
What it means for investors. Private banks are a large share of the Nifty 50. Comparing it with the PSU Bank index shows how differently the two parts of banking have behaved.
Returns over time
| Series | 1Y | 3Y | 5Y | 10Y | 15Y | 20Y | Max fall | Data to |
|---|---|---|---|---|---|---|---|---|
| Nifty Private Bank | −6.7% | 5.8% | 4.9% | 9.2% | n/a | n/a | −50% | 23 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.
NSE Indices daily index closing values (NSE archives, ind_close_all file). Data 5 Jan 2016 to 23 Oct 2026. Latest level: NSE daily index closing values. Returns use the fund NAV history, which includes dividends.
Mutual funds linked to Nifty Private Bank
MFIC groups that invest in this market, with medians for each group (medians across open-ended schemes, regular plans (etfs for etf categories), growth option, from amfi navs; NAVs as of 23 Oct 2026).
| Fund group | Link | Schemes | 1Y median | 3Y CAGR median | 5Y CAGR median | Ahead of benchmark TRI, 3Y |
|---|---|---|---|---|---|---|
| Equity ETF: Sector: Banking & financial services (ETFs) | Track this market | 39 | −6.1% | +8.6% | +6.7% | – |
| Index Fund: Sector: Banking & financial services | Track this market | 24 | −6.9% | +8.0% | +5.9% | – |
| Sectoral/Thematic: Banking & financial services | Main market of active funds | 28 | −7.6% | +9.4% | +7.7% | 11 of 17 |
Groups follow AMFI categories; theme groups are MFIC's own grouping from scheme names. "Ahead of benchmark TRI" compares each scheme's 3-year return with its own benchmark's total return index as published by AMFI; it is not shown for index funds and ETFs, which aim to match their index. Listed by how closely the group follows this market, not ranked. Open a group for every scheme in it.
Calendar-year returns
| Year | Return |
|---|---|
| 2026 to 23 Oct | −7.2% |
| 2025 | 15.9% |
| 2024 | −0.4% |
| 2023 | 13.8% |
| 2022 | 21.2% |
| 2021 | 4.6% |
| 2020 | −2.9% |
| 2019 | 16.2% |
| 2018 | 8.1% |
| 2017 | 40.8% |
| 2016 | 9.6% |
Over 10 complete calendar years since 2017, Nifty Private Bank rose in 8. Best: 2017 (+40.8%). Worst: 2020 (−2.9%).
Year-end to year-end, from NSE Indices daily index closing values (NSE archives, ind_close_all file).
Falls from peak and recovery
| Peak | Bottom | Fall | Months down | Back to peak | Months to recover | Events in the fall |
|---|---|---|---|---|---|---|
| Feb 2026 | Mar 2026 | −17.3% | 1 | not yet | — | — |
| Sep 2024 | Jan 2025 | −13.2% | 4 | Apr 2025 | 3 | — |
| Sep 2023 | Nov 2023 | −12.3% | 2 | Dec 2023 | 1 | — |
| Dec 2022 | Mar 2023 | −11.5% | 3 | May 2023 | 2 | — |
| Oct 2021 | Jun 2022 | −23.3% | 8 | Nov 2022 | 5 | Russia–Ukraine war begins; RBI off-cycle rate hike |
| Feb 2021 | Apr 2021 | −17.0% | 2 | Sep 2021 | 6 | — |
| Jan 2020 | Mar 2020 | −49.9% | 3 | Feb 2021 | 10 | COVID-19 declared a pandemic |
| Jun 2019 | Sep 2019 | −16.2% | 4 | Nov 2019 | 2 | — |
| Aug 2018 | Oct 2018 | −14.6% | 1 | Mar 2019 | 5 | NBFC sell-off |
| Jan 2018 | Mar 2018 | −12.9% | 2 | Jul 2018 | 4 | Union Budget 2018 |
| Sep 2016 | Dec 2016 | −15.3% | 4 | Feb 2017 | 2 | Demonetisation |
| Jan 2016 | Feb 2016 | −16.7% | 2 | Apr 2016 | 2 | — |
Each fall of 10% or more from a previous high, measured on daily data. The 12 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 | 117 | 12.1% | −41.2% | 76.6% | 3.7% to 18.6% | 82% |
| 3 years | 93 | 9.5% | −6.7% | 28.5% | 6.3% to 13.0% | 90% |
| 5 years | 69 | 9.1% | 5.2% | 21.1% | 8.3% to 12.1% | 100% |
| 10 years | 9 | 10.3% | 9.5% | 13.8% | 9.9% to 10.7% | 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 | 128 |
| Gold (domestic, ₹) | −0.10 | 128 |
| 10-year G-Sec (bond fund) | 0.09 | 128 |
| USD/INR | −0.44 | 128 |
| Nifty Bank | 0.99 | 128 |
| Nifty PSU Bank | 0.73 | 128 |
Correlation of monthly returns over the months both series have: +1 moves together, 0 unrelated, −1 opposite. Relationships change over time.
Nifty Private Bank and the Nifty 50, year by year
| Year | Nifty Private Bank | Nifty 50 |
|---|---|---|
| 2026 to 23 Oct | −7.2% | −12.9% |
| 2025 | 15.9% | 11.6% |
| 2024 | −0.4% | 9.6% |
| 2023 | 13.8% | 20.9% |
| 2022 | 21.2% | 5.3% |
| 2021 | 4.6% | 25.2% |
| 2020 | −2.9% | 15.5% |
| 2019 | 16.2% | 13.2% |
| 2018 | 8.1% | 4.3% |
| 2017 | 40.8% | 29.7% |
| 2016 | 9.6% | 4.0% |
Fund NAVs (AMFI), after fund costs.
Questions
- What has Nifty Private Bank returned over the long run?
- Calculated from NSE Indices daily index closing values (NSE archives, ind_close_all file), Nifty Private Bank returned 9.2% a year over the 10 years to 23 Oct 2026, and 5.8% a year over 3 years. Past returns do not indicate future returns.
- What was the biggest fall in Nifty Private Bank?
- In the data available from Jan 2016, the largest fall from a previous peak was −49.9%, from Jan 2020 to Mar 2020, and it regained the peak in Feb 2021 (10 months after the bottom). There were 12 falls of 10% or more, 2 of them 20% or more.
- How often has Nifty Private Bank been positive over one year?
- Across 117 one-year periods starting at month-ends, 82% were positive; the range was −41.2% to 76.6%. Over five-year periods (69), 100% were positive, with annualised returns from 5.2% to 21.1%.
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