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videos | IST

Momentumisers: Kotak Mahindra Bank outperforms Nifty50, here’s why

Kotak Mahindra Bank has outperformed Nifty50 in the last week and the volumes have been pretty good. So in the last week, Kotak Mahindra Bank was up about 1.3 percent compared to Bank Nifty being flat and Nifty50 gaining 0.2 percent.

Kotak Mahindra Bank has outperformed Nifty50 in the last week and the volumes have been pretty good. So in the last week, Kotak Mahindra Bank was up about 1.3 percent compared to Bank Nifty being flat and Nifty50 gaining 0.2 percent. On a monthly basis, it has underperformed, it's up 1.9 percent versus Bank Nifty gain of 6.7 percent and Nifty50 gain of around 2 percent.
The volume data is very interesting. Yesterday, September 8, volume was about 2,748 crore, which is up 5.5 times compared to the last two weeks of volume. Delivery volume was strong, at about 62.5 percent.
On a technical level, as of yesterday's closing price, the stock is trading around its 200-day moving average (DMA). So the stock is at a 4-month high, not far away from its April high of Rs 1,845 per share.
Watch the accompanying video of CNBC-TV18’s Abhishek Kothari for more details.