Tamilnad Mercantile Bank's Stock Sees -6.0% Decline, Underperforms Sector in Recent Trend

Tamilnad Mercantile Bank, a midcap private bank, has been facing a downward trend in its stock performance. On September 27, 2024, the bank's stock saw a decline of -6.0%, according to MarketsMOJO's stock call of 'Sell'. The stock is currently trading close to its 52-week low, with a difference of only 2.07%.

In today's trading session, the stock underperformed the sector by -4.74%. This is in line with its recent trend of consecutive falls, with the stock losing -9.26% in the last 8 days. The stock also touched an intraday low of Rs 446, which is a decline of -6.36%.

Tamilnad Mercantile Bank's moving averages also show a downward trend, with the stock trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This indicates a bearish sentiment in the market towards the stock.

In comparison to the overall market performance, Tamilnad Mercantile Bank's stock has been underperforming. On a 1-day basis, the stock's performance was -5.86%, while the Sensex's performance was only -0.29%. Similarly, on a 1-month basis, the stock's performance was -4.60%, while the Sensex's performance was 4.75%.

Investors and experts are advised to closely monitor the stock's performance and take necessary precautions while making any investment decisions. This information is based on factual data and does not include any external sources or recommendations.