State Bank of India's Stock Declines in Line with Public Banks Sector on October 7th

State Bank of India, one of the largest public banks in India, saw a decline of -3.58% in its stock price on October 7th, 2024. This drop was in line with the overall performance of the public banks sector, which fell by -3.04% on the same day.

According to MarketsMOJO, a leading stock analysis and recommendation platform, the current stock call for State Bank of India is 'Hold'. The stock has also underperformed the Sensex, India's benchmark stock index, by -3.90% in the past 1 day and -2.18% in the past 1 month.

On October 7th, State Bank of India's stock touched an intraday low of Rs 768.25, which was -3.56% lower than its previous closing price. However, the stock is still trading higher than its 200 day moving average, indicating a positive long-term trend.

While the stock is currently below its 5 day, 20 day, 50 day, and 100 day moving averages, it has outperformed the public banks sector by 0.29% on the day. This suggests that the stock may have potential for a rebound in the near future.

Investors should keep an eye on State Bank of India's performance in the coming days, as it may present a buying opportunity for those looking to invest in the public banks sector. However, it is important to note that this is not a recommendation and investors should do their own research before making any investment decisions.