Karnataka Bank Hits 52-Week Low Amid Sustained Market Underperformance

Karnataka Bank, a midcap private banking institution, has recently reached a 52-week low, closing just 0.1% away from its lowest point of Rs 192.25. The stock has been on a downward trajectory, underperforming its sector by 1.33% today and experiencing a consecutive decline over the past seven days, resulting in a total drop of 9.77% during this period.
On the trading day, Karnataka Bank's stock hit an intraday low of Rs 192.35, reflecting a decrease of 2.56%. Over the past year, the bank's performance has been notably poor, with a decline of 29.37%, contrasting sharply with the Sensex, which has gained 5.35% in the same timeframe. Furthermore, Karnataka Bank is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a sustained period of underperformance in the market.