Punjab National Bank Shows Active Trading Amid Potential Trend Reversal in Public Banking Sector

Punjab National Bank (PNB) has emerged as one of the most active equities today, with a total traded volume of 11,578,528 shares and a total traded value of approximately Rs 120.12 crores. The stock opened at Rs 103.31 and reached a day high of Rs 104.95, before settling at a last traded price of Rs 102.94, reflecting a decline of 1.14% for the day. This drop follows two consecutive days of gains, indicating a potential trend reversal.
In terms of moving averages, PNB's stock price remains above the 20-day, 50-day, and 100-day moving averages, yet it is below the 5-day and 200-day averages. Investor participation appears to be waning, with a delivery volume of 90.51 lakhs on April 29, which is down by 28.77% compared to the 5-day average delivery volume. Despite this, the stock maintains sufficient liquidity, with a trade size of Rs 3.93 crores based on 2% of the 5-day average traded value.

Overall, Punjab National Bank's performance today aligns closely with sector trends, reflecting a nuanced market position within the public banking industry.