Canara Bank shares declined for the fifth consecutive session on Wednesday, trading at ₹124.79, down 0.85% as of 13:19 IST on the NSE. According to reports from Business Standard, the stock has experienced a 2.48% decline over the past month, contrasting with the broader market performance.
The benchmark NIFTY was trading at 23,927.75, down around 0.08% on the day, while the Sensex stood at 76,618.81, declining 0.14%. As reported by Business Standard, the Nifty Bank index, of which Canara Bank is a constituent, was quoting at 57,727.35, down 0.16% on the day. The index has increased around 7.45% in the last one month.
Trading volume for Canara Bank stood at 179.41 lakh shares today, significantly lower than the daily average of 340.76 lakh shares recorded over the past month. According to Business Standard, the benchmark June futures contract for the stock was quoting at ₹124.59, down 1.41% on the day.
Despite the recent decline, Canara Bank has demonstrated strong long-term performance, jumping 8.12% in the last one year. This compares favorably to the 6.32% slide in NIFTY and the 0.31% spurt in the Nifty Bank index over the same period. The stock's PE ratio stands at 5.93 based on TTM earnings ending March 26.
