Intraday Performance and Price Movements
On 1 Feb 2026, Punjab National Bank's shares declined by 2.84%, closing well below the previous session’s levels. The stock’s intraday low of Rs 122.1 marked a significant dip, underperforming the Public Sector Bank sector by 1.28%. This downward movement contrasted with the broader market’s marginal decline, as the Sensex slipped by 0.01% to trade at 82,261.57 points after an initial positive opening.
Despite trading above its 100-day and 200-day moving averages, PNB’s share price remained below its short-term averages of 5-day, 20-day, and 50-day moving averages. This technical positioning suggests that while the stock retains some longer-term support, it faces immediate resistance in the near term, contributing to the price pressure observed during the session.
Market Context and Sector Comparison
The broader market environment today was characterised by a cautious mood. The Sensex, after opening 119.19 points higher, reversed course to close slightly lower by 127.40 points. The index remains 4.74% below its 52-week high of 86,159.02, indicating some hesitation among investors at elevated levels. Notably, the Sensex is trading below its 50-day moving average, although the 50DMA itself is positioned above the 200DMA, signalling a mixed technical outlook for the market.
Within this context, Punjab National Bank’s sharper decline relative to the Sensex’s 0.05% fall highlights specific pressures on the stock. The bank’s 1-day performance of -2.84% contrasts with the Sensex’s marginal dip, underscoring the stock’s relative weakness on the day.
Performance Trends Over Various Timeframes
Examining PNB’s performance over longer periods reveals a more nuanced picture. Over the past week, the stock gained 1.25%, outpacing the Sensex’s 0.85% rise. Over one month, however, PNB declined by 0.61%, though this was less severe than the Sensex’s 2.89% drop. The three-month performance shows a modest 1.29% gain for PNB, contrasting with a 2.58% decline in the Sensex.
On a yearly basis, Punjab National Bank has delivered a robust 26.00% return, significantly outperforming the Sensex’s 7.13% gain. Year-to-date, the stock has declined by 1.58%, slightly better than the Sensex’s 3.51% fall. Longer-term returns remain strong, with three-year and five-year gains of 139.94% and 264.22% respectively, well ahead of the Sensex’s 38.20% and 77.66% over the same periods.
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Mojo Score and Rating Update
Punjab National Bank currently holds a Mojo Score of 65.0, categorised under a Hold rating. This represents a downgrade from its previous Buy rating, which was revised on 27 Jan 2026. The downgrade reflects a reassessment of the stock’s near-term outlook amid evolving market conditions and valuation considerations. The bank’s market capitalisation grade remains at 1, indicating its standing within the large-cap segment.
Immediate Price Pressures and Technical Factors
The stock’s inability to sustain levels above its short-term moving averages has contributed to the intraday weakness. The 5-day, 20-day, and 50-day moving averages act as resistance points, and the failure to breach these levels has likely intensified selling pressure. This technical scenario, combined with the broader market’s cautious stance, has weighed on PNB’s share price.
Additionally, the stock’s underperformance relative to its sector peers suggests sector-specific factors may be influencing investor sentiment. The Public Sector Bank sector itself has faced mixed trading sessions, with some volatility driven by macroeconomic and regulatory developments.
Market Sentiment and Broader Implications
Investor sentiment today was subdued, with the Sensex’s reversal from a positive open to a marginal decline signalling a lack of conviction in the market’s upward momentum. This environment has exerted pressure on stocks like Punjab National Bank, which are sensitive to shifts in market mood and technical triggers.
While the stock’s longer-term performance remains strong, the immediate price action reflects a phase of consolidation and caution. The decline to the intraday low of Rs 122.1 underscores the challenges faced in maintaining upward momentum amid mixed technical signals and broader market uncertainties.
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Summary of Today’s Trading Session
In summary, Punjab National Bank’s shares faced downward pressure throughout the trading day, culminating in an intraday low of Rs 122.1. The stock’s 2.84% decline outpaced the broader market’s marginal fall, reflecting specific challenges in overcoming short-term resistance levels. The downgrade in Mojo Grade to Hold further signals a tempered outlook in the near term.
Market participants will likely monitor the stock’s ability to regain momentum above its short-term moving averages and respond to broader market cues. For now, the intraday low marks a key reference point in assessing the stock’s immediate price dynamics amid a cautious market environment.
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