3 Reasons Why Axis Bank Stock Could Collapse

3 Reasons Why Axis Bank Stock Could Collapse As of the latest update on December 20, 2024, Axis Bank’s stock is facing a bearish trend, having dropped by 2.01% to ₹1086.2 per share. The stock has seen a fluctuating price range today, reaching a high of ₹1106.95 and a low of ₹1078.25. This decline follows a previous session where the stock closed at ₹1122.45, reflecting a more positive movement. Volume traded until noon has surged by nearly 194%, indicating increased activity compared to the previous day, with the current price being significantly lower than the five-day, 10-day, and 20-day simple moving averages.

Axis Bank has broken through key support levels, indicating a strong bearish momentum. The first support was ₹1100.02, followed by ₹1091.53, and if the price breaks the final support at ₹1082.02, further downward movement may occur. The stock’s 52-week high remains at ₹1339.55, with its low at ₹995.95.

Looking at the broader market, Axis Bank’s performance is in line with other major banks like State Bank of India, Kotak Mahindra Bank, and Punjab National Bank, which have also seen declines today. In contrast, Bank of Baroda is performing slightly better. Additionally, futures trading for Axis Bank is showing a -1.42% decline, which suggests a potential downward trend in the short term, despite a small rise in open interest.

Despite the bearish short-term outlook, analysts still recommend a “Buy” rating with a price target median of ₹1375, representing a potential 25.71% upside from the current levels.

Axis Bank stock falls 1.08% today

Axis Bank Ltd. Drops 1.08% on December 20, 2024

3 Reasons Why Axis Bank Stock Could Collapse Axis Bank’s stock fell by 1.08% today, trading at ₹1096.45. Over the past month, the bank has declined by 3.4%, while the BSE BANKEX index has gained 1.7% and the SENSEX rose by 2.26%. In comparison to other constituents of the BSE BANKEX, HDFC Bank decreased by 0.54% and IndusInd Bank by 0.41%. Over the last year, the BSE BANKEX index saw an 8.72% increase, while the SENSEX surged by 11.95%.

On the BSE, Axis Bank saw 3,875 shares traded today, well below its average daily volume of 2.31 lakh shares over the past month. The stock reached a 52-week high of ₹1339.55 on July 12, 2024, and a low of ₹995.95 on April 19, 2024.

Axis Bank stock falls 1.24% on Dec 18

Axis Bank Stock Price Live Update

3 Reasons Why Axis Bank Stock Could Collapse Axis Bank’s stock has been experiencing fluctuations, with recent updates showing a decrease in its price. On December 18, 2024, the stock traded at ₹1,122.25, reflecting a 1.24% decline. At that time, the market capitalization stood at ₹3,47,527.13 crore, with a trading volume of 7,222,127 shares. The Price-to-Earnings (P/E) ratio was 12.43, and the Earnings Per Share (EPS) was 90.29.

The stock has been facing downward pressure, with a drop of 1.64% earlier in the day, trading below key support levels. Over the past six months, the stock has posted a return of -6.02%. Despite these challenges, Axis Bank has shown significant five-year returns of 51.19%.

In addition to the stock price updates, there were also announcements regarding changes to Axis Bank’s credit card offerings, including new rules on reward points and other features, effective December 20, 2024.

The stock has seen minor price adjustments, with a six-month beta of 1.10, reflecting volatility in line with market trends. The 52-week high was ₹1,339 and the low was ₹996.