Business & Finance
Bajaj Auto Shares Slide Below Key Support Levels Amid Bearish Trend
Bajaj Auto's stock continued to face downward pressure in trading on September 7, 2026, breaking below several technical support levels and moving averages, signaling a bearish trend for the automaker's shares.
As of 10:37 AM IST, Bajaj Auto's last traded price stood at Rs 11,765.0, with a market capitalization of Rs 329,975.15 crore. The stock recorded a trading volume of 36,434 shares, a price-to-earnings ratio of 28.06, and earnings per share of Rs 420.73.
Earlier in the session, at 10:16 AM IST, the stock was trading at Rs 11,801.0, down 1.0% for the day, with a weekly return of -2.9%. By 9:46 AM IST, shares had fallen further to Rs 11,763.0, a decline of 1.31%, while the 5-day exponential moving average stood at Rs 11,975.28.
The stock breached its second support level (S2) of Rs 12,091.0, trading at Rs 11,764.0 as of 9:25 AM IST, indicating a negative price breakout. Around the same time, Bajaj Auto also slipped below its 20-day Simple Moving Average of Rs 11,820.6, trading at Rs 11,810.0, a drop of 0.91%, reinforcing concerns about a bearish trend.
At 9:16 AM IST, the stock fell below its 20-day Exponential Moving Average of Rs 11,801.04, trading at Rs 11,789.0, down 1.09% for the day.
In the previous trading session, Bajaj Auto closed at Rs 11,919.0, with a trading volume of 154,199 shares and no percentage change recorded.
Separately, recent Goods and Services Tax (GST) reforms have had a notable impact on the broader automotive stock sector following a rate cut announcement, reshaping performance across auto stocks and creating new opportunities and challenges for investors in the space.