ट्रेंडिंग

State Bank of India share price may go down to Rs 661 in next 7 days, know intraday level

WhatsApp Group Join Now
Telegram Group Join Now

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%.

Current Performance of State Bank of India Share Price

Share Price Overview

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.

Future Predictions for SBI Share Price

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

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.

Jiya

Jiya Singh is an experienced Hindi and English news writer with nearly 5 years of experience in the media industry. She started her career with an online news website Newz Fast, where she worked in many sections including Hindi news and business. She loves writing and reading news related to technology, automobile and business. She has covered all these sections extensively and presented excellent reports for the readers. Jiya Singh has been trying to provide correct and accurate information to the readers on Local Haryana for the last 1 year.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button