Fri Jan 17 14:35:17 UTC 2025: ## Axis Bank Shares Plunge Over 5%, Hitting 52-Week Low

**Mumbai, January 17, 2025** – Axis Bank shares experienced a significant drop today, plummeting over 5% to a 52-week low of ₹980.55. The decline follows a broader downturn in the banking sector and the overall market, with benchmark indices Nifty and Sensex also experiencing losses.

The stock opened at ₹1034 but quickly fell throughout the day, reaching a low of ₹974.45 before closing at ₹985.95. This represents a 5.22% decrease from the previous day’s closing price. Trading volume surged dramatically, exceeding the previous day’s volume by over 800% at various points during the day, reaching 807.10% higher by 11 AM. This high volume alongside the price drop suggests strong selling pressure.

Despite a “Buy” rating from analysts, the bearish trend continues. Technical analysis indicates a bearish outlook in both the short and long term. While the day’s trading range was significant (₹974.45 to ₹1011.95), the overall trend points towards further potential decline.

Key support and resistance levels have been identified for traders, with the breach of key support levels signaling further bearish movement. A lower futures price and higher open interest suggest the negative price movement may continue in the coming days.

While Axis Bank’s recent performance indicates a downward trend, its three-year EPS growth of 52.17% and revenue growth of 20.53% offer some long-term perspective. However, the current market sentiment and technical indicators suggest caution for investors in the short term. The company’s MF holding increased to 29.03% and FII holding decreased to 47.31% in the latest quarter. Further details regarding the Q3 results, which apparently missed estimates, are anticipated to provide additional insights into the reasons for this sharp decline.

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