Canara Bank Faces Stock Volatility Amid Sustained Bearish Trend and Declining Performance
Canara Bank's stock has faced notable volatility, nearing its 52-week low and underperforming its sector. It has declined for five consecutive days, with a significant drop over the past year. Despite these challenges, the bank offers a high dividend yield, contrasting with the positive performance of the Sensex.
Canara Bank, a prominent player in the public banking sector, has experienced significant volatility in its stock performance recently. As of February 12, 2025, the stock has approached its 52-week low, currently sitting just 0.48% above the low of Rs 87.75. Today, the stock underperformed its sector by 1.21%, continuing a downward trend that has seen it decline for five consecutive days, resulting in an overall drop of 8.07% during this period.The stock reached an intraday low of Rs 87.9, reflecting a decrease of 2.61% for the day. Additionally, Canara Bank is trading below its moving averages across various time frames, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a sustained bearish trend.
Despite these challenges, Canara Bank maintains a high dividend yield of 3.57% at its current price. Over the past year, the bank's stock has declined by 19.45%, contrasting sharply with the Sensex, which has seen a positive performance of 6.17%.
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