Punjab National Bank's Stock Price Declines by -3.64% Amidst Overall Public Banking Sector Downtrend

Punjab National Bank, one of the largest public banks in India, has seen a decline in its stock price by -3.64% on November 21, 2024. This underperformance is reflected in the stock call given by MarketsMOJO, which has rated the stock as 'Hold'.

The stock has also fallen after two consecutive days of gains, indicating a possible trend reversal. On the same day, the stock touched an intraday low of Rs 96.84, a decrease of -4.03%. Additionally, Punjab National Bank is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, further highlighting its downward trend.

The entire public banking sector has also seen a decline, with a -2.87% decrease. In comparison, Punjab National Bank's 1-day performance is -4.52%, while the Sensex's performance is -0.75%. Similarly, in the past month, the stock has seen a decline of -5.82%, while the Sensex has seen a decrease of -5.12%.

While there has been no mention of any specific reasons for the decline in Punjab National Bank's stock price, investors may want to keep an eye on the stock's performance in the coming days. As always, it is important to do thorough research and consult with a financial advisor before making any investment decisions.