Bank of Baroda jumps about 8% in four days

Bank of Baroda jumped 4.59% to Rs 184.60, extending gains for the fourth trading session.

Shares of Bank of Baroda have risen 7.83% in four sessions.

The stock hit a 52-week high of Rs 184.75 in early trade today. It hit a 52-week low of Rs 77 on 27 December 2022.

The stock had outperformed the market over the past one month, soaring 17.37% compared with 2.16% rise in the Sensex.

The scrip outperformed the market in past one quarter, surging 33.33% as against Sensex's 4.72% rise.

The scrip had outperformed the market in past one year, gaining 101.79% as against Sensex's 6.58% rise.

On the technical front, the stock's daily RSI (relative strength index) stood at 79.14. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 151.60, 138.44 and 121.71, respectively. These levels will act as crucial support zones in near term.

Bank of Baroda is one of India's largest banks with a strong domestic presence spanning 8,161 branches and 11,461 ATMs and cash recyclers supported by self-service channels.

Bank of Baroda's net profit surged 58.7% to Rs 3,313.42 crore on 13.86% rise in total income to Rs 23080.03 crore in Q2 FY23 over Q2 FY22.

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