At 17 Sep 11:04 today, Sbi shares are trading at price ₹783.5, -0.25% down from the previous closing price. Sensex is trading at ₹83040.3, up by 0.06%. The stock has hit a high of ₹787.5 and a low of ₹780.65 during the day.
On the technical front, the stock is trading above the 5,300 days SMA & lower than the 10,20,50,100 day SMA. The stock will have support at 5,300 days SMA & face resistance at 10,20,50,100 days SMA.
Till 11 AM today, the volume traded on NSE & BSE for State Bank Of India was -39.73% lower than the previous trading session. Volume traded is an important indicator along with price to study trends. Positive price movement with higher volume suggests a sustainable upmove, and negative price movement with higher volume might be an indication of further decline in prices.
The stock’s continued downtrend suggests a bearish trend is underwayFrom a fundamental analysis perspective, the company has a ROE of 17.34% .The current P/E of the stock is at 10.33 & P/B is at 1.60.
The company has a 57.54% promoter holding, 10.40% MF holding, & 11.15% FII holding as per filings in the june quarter.
The FII holding has increased from 11.09% in march to 11.15% in the june quarter.
State Bank Of India share price down -0.25% today to trade at ₹783.5 while its peers are mixed. Its peers such as HDFC Bank are falling today, but its peers ICICI Bank, Axis Bank, Kotak Mahindra Bank are on the rise. Overall, benchmark indices Nifty & Sensex are up 0.05% & 0.06% each respectively.
The article originally appeared on Mint.