HomeMarket NewsStocks NewsMomentumisers: Here’s why AU Small Finance Bank share price underperformed Nifty

Momentumisers: Here’s why AU Small Finance Bank share price underperformed Nifty

AU Small Finance Bank has underperformed Nifty over the last week. It is down more than six percent on a weekly basis while Bank Nifty and Nifty are almost flat.

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By Abhishek Kothari  May 6, 2021, 10:04:09 AM IST (Updated)

AU Small Finance Bank has underperformed Nifty over the last week. It is down more than six percent on a weekly basis while Bank Nifty and Nifty are almost flat.



The daily trading volume has increased from Rs 169 crore as of April 27 to about Rs 428 crore as of Wednesday. So that’s an uptick of 2.5 times.

Wednesday’s, May 5, delivery volume was close to 28.4 percent. The stock is trading at Rs 944 and therefore, on technical levels, it’s trading above 200 days moving average (DMA) and below 100 DMA.

The stock has witnessed a sharp drop from the highs of Rs 1,172 to as low as Rs 910 per share. So that’s a drop of more than 22 percent. It has bounced from the 200 DMA.

The pullback is seen likely from current levels so one can see short-term gains coming in the stock.

Watch the accompanying video of CNBC-TV18’s Abhishek Kothari for more details.

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