Current Bharti Airtel Share Price Overview
As of October 8, 2023, at 16:00, Bharti Airtel shares are trading at ₹1658.4, reflecting a decline of 0.28% from the previous closing price. In contrast, the Sensex index has seen a rise, currently trading at ₹81634.81, which is up by 0.72%. Notably, during today’s trading, Bharti Airtel’s stock reached a high of ₹1679.6 and dipped to a low of ₹1600.
Technical Analysis of Bharti Airtel Stocks
From a technical standpoint, Bharti Airtel is trading above its 50, 100, and 300-day Simple Moving Averages (SMA), indicating a long-term bullish sentiment. However, it is currently below its 5, 10, and 20-day SMAs, suggesting short-term volatility. The stock shows crucial support at the 50, 100, and 300-day SMAs while facing resistance at the 5, 10, and 20-day SMAs, highlighting potential price movements in the near future.
Pivot Level Analysis
An analysis of classic pivot levels reveals key resistance points for Bharti Airtel at ₹1675.67, ₹1691.33, and ₹1703.17. The support levels are identified at ₹1648.17, ₹1636.33, and ₹1620.67, which investors should monitor for potential market behavior.
Trading Volume Insights
As of 4 PM today, the trading volume for Bharti Airtel on both the NSE and BSE was down by 11.15% compared to the previous session. Volume traded is a crucial indicator when analyzing market trends; generally, positive price shifts accompanied by high volume suggest a sustainable upward movement. Conversely, negative price fluctuations with increased volume can indicate potential further declines.
Trend Analysis
Based on the analysis from Mint, Bharti Airtel is showing early indications of a potential trend reversal after experiencing a significant uptrend. Investors should keep an eye on market signals to navigate this possibility effectively.
Fundamental Analysis of Bharti Airtel
From a fundamental perspective, Bharti Airtel boasts an impressive Return on Equity (ROE) of 9.36%. Currently, the stock’s Price-to-Earnings (P/E) ratio stands at 97.93, while the Price-to-Book (P/B) ratio is at 10.70. These metrics provide insights into the company’s valuation relative to its earnings and book value, which are essential for prospective investors.
Stock Forecast and Holdings
An analysis of the stock’s 1-year forecast indicates a median upside potential of 0.69%, with a target price set at ₹1647.00. Additionally, the promoter holding stands at 53.17%, with mutual funds holding 6.46%, and foreign institutional investors (FIIs) holding 24.62% as per the latest quarterly filings.
Change in Holdings
The latest data indicates a decrease in mutual fund holdings from 6.63% in March to 6.46% in June. In contrast, FII holdings have increased from 24.35% in March to 24.62% in June, reflecting a shift in investor sentiment.
Market Performance Context
Today, Bharti Airtel’s share price is down by 0.28%, trading at ₹1658.4. When looking at its peers, while some are experiencing declines, others like Vodafone Idea, Tata Communications, and Railtel Corporation of India are on the rise. Notably, the benchmark indices Nifty and Sensex have both posted gains of 0.88% and 0.72%, respectively.
