As of 23-10-2024, the trading session of Axis Bank witnessed an opening price of ₹1174 and a closing price of ₹1165.05. Throughout the day, the stock fluctuated between a high of ₹1183 and a low of ₹1164.35.
As of 23rd October at 13:02, the current trading price of Axis Bank shares stands at ₹1165.05, marking a decrease of 0.91% from the last closing price. Meanwhile, the Sensex is performing positively at ₹80512.84, showing an increase of 0.36%. Throughout the day, the stock’s value fluctuated between a high of ₹1183 and a low of ₹1164.35.
From a technical perspective, the stock currently sits above the 300-day SMA while remaining below the SMAs for 5, 10, 20, 50, and 100 days. It is anticipated that the stock will find support at the 300-day SMA and encounter resistance at the SMAs for 5, 10, 20, 50, and 100 days.
The SMA values for the stock are given below :
| Days | Simple Moving Average |
|---|---|
| 5 | 1165.06 |
| 10 | 1166.82 |
| 20 | 1196.38 |
| 50 | 1186.57 |
| 100 | 1205.55 |
| 300 | 1147.63 |
According to the traditional pivot level assessment, key resistance points for the stock on a daily basis are observed at ₹1191.15, ₹1206.9, and ₹1215.8, while crucial support levels are identified at ₹1166.5, ₹1157.6, and ₹1141.85.
Today’s Axis Bank Stock Price
The trading volume for Axis Bank on the NSE & BSE until 1 PM today showed a 4.68% increase compared to the previous session. Analyzing volume traded alongside price is crucial for trend analysis. A rise in price accompanied by increased volume indicates a lasting upward trend, whereas a drop in price with higher volume could signal potential further price decreases.
In general, based on Mint’s technical analysis, the ongoing decline in the stock indicates a bearish trend is in progress.
Analyzing the fundamentals, the company boasts an ROE of 18.40%. Its current P/E ratio stands at 13.25, with a P/B ratio of 2.14.
The projected increase for this stock’s one-year median forecast stands at 17.16%, targeting a price of ₹1365.00.
In the September quarter filings, it was reported that the company has a promoter holding of 0.00%, MF holding of 4.79%, and FII holding of 51.77%.
The MF holding dropped from 4.91% in June to 4.79% in the September quarter.
In the September quarter, there was a reduction in FII holding from 53.42% in June to 51.77%.
Today, Axis Bank’s stock witnessed a decline of 0.91%, settling at ₹1165.05, amid a mixed performance among its counterparts. While State Bank Of India recorded a decrease, Kotak Mahindra Bank, Bank Of Baroda, and Punjab National Bank observed upward trends. Concurrently, the Nifty and Sensex, leading benchmark indices, saw gains of 0.38% and 0.36% individually.
