The stock fell 0.29% to 1,292.35 rupees on Thursday as the BSE Sensex slipped 0.15% to 77,844.52.
Axis Bank closed 8.88% below its 52-week high of 1,418.30 rupees reached on 3 February.
Among peers, State Bank of India fell 0.36%, ICICI Bank dipped 0.04% and Yes Bank rose 1.72%, while Axis Bank trading volume reached 1.2 million against a 50-day average of 402,672.
Analysts are bullish on Axis Bank, but its stock keeps falling. What does the market know that they don't?
As established banks like Axis falter, is a once-bailed-out rival now the sector's safer bet for investors?