State Bank of India share price may go down to Rs 661 in next 7 days, know intraday level
State Bank of India (SBI) Share Price is ₹783.00, reflecting a slight decrease of 0.16% from the previous closing price of ₹784.25. The stock has shown some fluctuations today, with a low of ₹774 and a high of ₹789. Over the past month, SBI’s stock has faced challenges, dropping approximately 6.54%.
Main Points
The current share price of SBI stands at ₹783.00 on the National Stock Exchange (NSE) and ₹784.30 on the Bombay Stock Exchange (BSE). The stock has experienced a 52-week range, with a low of ₹543.15 and a high of ₹912.10. This indicates significant volatility over the past year, with investors closely monitoring its performance.
Recent Price Movements
- Day Range: ₹774 (low) – ₹789 (high)
- Previous Close: ₹784.25
- Market Capitalization: Approximately ₹7,26,909.68 Crores as of the latest reports.
Technical Analysis
From a technical perspective, the daily pivot level for SBI is set at ₹816.65. The resistance levels are identified as R1 at ₹819, R2 at ₹822.7, and R3 at ₹825.05. On the support side, the levels are marked as S1 at ₹812.95, S2 at ₹810.6, and S3 at ₹806.9. The stock is currently trading below its 50-day moving average, indicating potential challenges ahead unless it can break through this resistance.
Short-Term Outlook
Analysts suggest that SBI’s stock may face continued pressure in the short term, primarily due to recent market trends and economic conditions. The stock has shown a return of -6.57% over the past month and -1.26% over the last three months, indicating a bearish trend. However, the stock has performed well over longer periods, with a 45.31% return over the past year and an impressive 203.95% over the last five years.
Key Indicators
- P/E Ratio: 10.84
- P/B Ratio: 1.88
- Return on Equity (ROE): 8%.
These indicators suggest that while SBI is currently undervalued compared to its historical performance, it may require positive market sentiment and strong quarterly results to regain momentum.
Recent News and Developments
Key Highlights
- Market Trends: The banking sector has been under pressure due to rising interest rates and inflation concerns, impacting SBI’s stock performance. Analysts are keeping a close eye on economic indicators that could influence the banking sector’s recovery.
- Institutional Holdings: There has been a notable increase in institutional holdings in SBI, which is generally a positive sign for investors. This trend indicates confidence from large investors in the bank’s long-term prospects.
- Dividend Announcements: SBI has maintained a healthy dividend payout ratio, which may attract income-focused investors. The bank declared a dividend of ₹4.00 per share over the last 12 months, reflecting its commitment to returning value to shareholders.
- Earnings Reports: Upcoming earnings reports will be crucial for SBI. Analysts expect the bank to report strong growth in profits, which could help stabilize the stock price and potentially lead to a rebound.
- Sector Comparison: Compared to its peers, SBI has shown resilience, with a market cap of ₹7,26,909.68 Crores, making it one of the largest banks in India. Its performance metrics are competitive, although it lags behind in some technical parameters.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
