Canara Bank Stock Declines -3.9% on November 4th, Underperforming Sector

Canara Bank, one of the leading public banks in India, has seen a decline in its stock price on November 4th, 2024. The stock has lost -3.9% on this day, underperforming the sector by -1.9%. The stock touched an intraday low of Rs 100.05, a decrease of -3.75%. According to MarketsMOJO, a leading stock analysis platform, the stock call for Canara Bank is 'Sell'. The stock is currently trading lower than its 5 day, 20 day, 50 day, 100 day, and 200 day moving averages. This indicates a downward trend in the stock's performance. The public banking sector as a whole has also seen a decline, with a -2.15% decrease. However, Canara Bank stands out with a high dividend yield of 3.14% at the current price. In comparison to the overall market performance, Canara Bank has underperformed. On the day of November 4th, its performance was -4.04% compared to the Sensex's -1.69%. In the past month, Canara Bank's performance has been -7.34% while the Sensex's performance was -4.05%. Investors and experts are advised to closely monitor Canara Bank's stock performance and make informed decisions based on their own analysis. With the current downward trend, it may be a good time to re-evaluate one's investment in Canara Bank.