PNB Housing Finance Stock Declines Amidst Underperformance in Finance Sector

Oct 18 2024 09:35 AM IST
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On October 18, 2024, PNB Housing Finance's stock price declined by -3.92%, attributed to the underperformance of the finance sector. Despite this, the stock is still performing well compared to moving averages, but has underperformed the overall market and Sensex. MarketsMojo rates the stock as 'Hold', suggesting a neutral stance.

PNB Housing Finance, a leading housing finance company in India, has seen a decline in its stock price by -3.92% on October 18, 2024. This has been attributed to the overall underperformance of the finance sector, with the stock falling -1.1% below the sector average.

The stock has been on a downward trend for the past four days, with a consecutive fall of -9.04% during this period. On October 18, the stock touched an intraday low of Rs 896.85, a decrease of -3.93% from the previous day's closing price.

Despite this recent decline, PNB Housing Finance's stock is still performing well in comparison to the 100-day and 200-day moving averages. However, it is currently lower than the 5-day, 20-day, and 50-day moving averages.

The finance - housing sector as a whole has also seen a decline of -2.26%, further contributing to the decrease in PNB Housing Finance's stock price.

In comparison to the overall market performance, PNB Housing Finance's stock has underperformed the Sensex by -3.32% in the past day and -16.12% in the past month. This is in contrast to the Sensex's performance of -0.56% and -2.89% in the same time periods, respectively.

Overall, PNB Housing Finance's stock is currently rated as 'Hold' by MarketsMOJO, indicating a neutral stance on the company's performance. Investors should continue to monitor the stock's performance and the overall market trends before making any investment decisions.
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