Why SBI Share Price Is Falling?
The
shares of SBI are falling from the last few sessions. The stock has recently
hit a 52 week high but it is not able to sustain the higher levels. The
correction in the stock price is not that steep but yet it is falling. The fall
in the stock price is a concern majorly for the retail shareholders who entered
the stock at a higher price.
· One of the biggest reasons for the fall in SBI
share price is the global market fall. The stock exchanges across the globe
have been under a down trend and the Indian market is no different. The
constant pressure on Nifty and Bank Nifty has led to pressure on the SBI stock
price.
· Another reason for the fall can be the expected
hike in the repo rate by RBI. Thanks to Fed, a 50-bps hike is likely from the
RBI. Constant pressure on the Rupee is another reason why RBI may come up with
stringent measures that can impact the overall banking industry.
· Last but not the least, a stock close to its 52
week high will face some profit booking. SBI may be going through that phase
before it begins its upward journey again.
These
are some of the reasons why the State Bank of India stock price is facing
pressure for the past few weeks. If the sentiment of the market towards the
stock changes, the stock may begin its upward journey soon. The rate hike and commentary
by RBI will be critical for a clearer picture of the stock price ahead.