Punjab National Bank Shows Increased Trading Activity Amidst Market Challenges

Punjab National Bank (PNB) has emerged as one of the most active equities today, with a total traded volume of 16,232,435 shares and a total traded value of approximately Rs 1,464.17 crores. The stock opened at Rs 91.00 and reached a day high of Rs 91.49, but it has also seen a significant decline, touching an intraday low of Rs 89.04, which is 3.8% away from its 52-week low of Rs 85.46.
Despite its large-cap status with a market capitalization of Rs 1,02,114.80 crores, PNB has underperformed compared to its sector, recording a 1D return of -2.54%, while the sector's return was -1.43%. The stock has fallen after three consecutive days of gains, indicating a potential trend reversal. Additionally, the delivery volume has decreased significantly, with a drop of 41.13% against the 5-day average delivery volume.

In terms of moving averages, PNB is currently above its 5-day moving average but below the 20-day, 50-day, 100-day, and 200-day moving averages. The liquidity remains adequate for trading, with a trade size of Rs 4.44 crores based on 2% of the 5-day average traded value. Overall, PNB's performance today reflects a challenging market environment for the public banking sector.