NIFTY 50

Momentumisers: Here’s why Bandhan Bank has underperformed Nifty50

Updated : April 15, 2021 11:57:08 IST

Bandhan Bank has underperformed the Nifty over the last week. It has declined by 7.5 percent when compared to 2.23 percent decline in Nifty and 2 percent in Bank Nifty and even on a monthly basis it has underperformed the market.

Therefore, looking at the volume data, the daily trading volume has increased by 3.4 times over the last week; from April 6 the volume was close to 119 crore and had increased to about 401.5 crore on April 13.

However, the key technical levels where the stock is priced below the 200-day moving average (DMA). So it is not looking strong despite the recent bounce-back that we have seen and there are concerns or collections where there will be delays due to further lockdown or restrictions in the state of Assam and West Bengal.

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