Axis Bank's Stock Price Declines by -4.12% on October 3rd, MarketsMOJO Gives 'Hold' Call

Axis Bank ., one of the largest private banks in India, saw a decline of -4.12% in its stock price on October 3rd, 2024. This underperformance was noted by MarketsMOJO, who have given a 'Hold' call for the stock.

The stock has been on a downward trend for the past four days, with a total fall of -7.72% during this period. On October 3rd, the stock touched an intraday low of Rs 1177.2, a decrease of -3.97%. While the stock is currently trading higher than its 200-day moving average, it is lower than its 5-day, 20-day, 50-day, and 100-day moving averages.

The entire private banking sector has been facing a decline, with Bank - Private falling by -2.32%. In comparison, Axis Bank's performance on October 3rd was -4.12%, while the Sensex's performance was -2.07%. Over the past month, Axis Bank's stock has seen a decline of -1.38%, while the Sensex's performance was -0.05%.

While there has been a recent decline in Axis Bank's stock price, it is important to note that this is not indicative of the company's future potential. As a largecap private bank, Axis Bank has a strong presence in the Indian banking industry and has consistently shown growth and stability. Investors are advised to hold onto their positions and monitor the stock's performance in the coming days.