SBI Card hits 52-week low; slips 11% in 7 days

17 Jun 2022 , 12:45 PM

Shares of SBI Cards slumped 11.3% in seven trading sessions from its previous closing high of Rs 784.70 on 8 June 2022. The stock hit its 52-week low of Rs 688 today. The stock has lost 40% from its 52-week high of Rs 1,164.65 recorded on 1 September 2021. On the BSE, 27,000 shares were traded in the counter so far compared with average daily volumes of 31,000 shares in the past two weeks. The stock has declined 5.03% in one month while the benchmark Nifty 50 index has fallen 5.94% and the Sensex has lost 5.72% during the same period. On the technical front, the stocks daily RSI (relative strength index) stood at 30.686. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. In daily chart, the stock is trading below its 50 and 100 days simple moving average (SMA) placed at 777.58, 803.74 respectively. These levels will act as crucial resistance zones in near term. SBI Cards and Payment Services is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients The company reported a 231% jump in net profit to Rs 581 crore on a 22% rise in total income to Rs 3,016 crore in Q4 FY22 over Q4 FY21. Powered by Capital Market – Live News