Canara Bank Shows Recovery Trend Amidst Fluctuating Investor Participation in Stock Market

Canara Bank, a prominent player in the public sector banking industry, has shown significant activity in the stock market today. The stock, trading under the symbol CANBK, recorded a total traded volume of 8,937,341 shares, with a total traded value of approximately Rs 105.26 crores. The stock opened at Rs 116.90 and reached a day high of Rs 119.00, reflecting a 3.1% increase during the trading session. The last traded price (LTP) stands at Rs 118.95.
Notably, Canara Bank has outperformed its sector by 0.55%, marking a trend reversal after two consecutive days of decline. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive momentum in its performance. However, there has been a slight decline in investor participation, with delivery volume dropping by 4.27% compared to the 5-day average.

With a market capitalization of Rs 1,07,160.67 crores, Canara Bank remains a liquid stock, suitable for trades up to Rs 8.05 crores based on 2% of the 5-day average traded value. Overall, the bank's performance today reflects a recovery trend amidst fluctuating investor activity.