Aban Offshore Ltd Hits Lower Circuit Limit with Intraday Low of Rs 34.9

Aban Offshore Ltd, a microcap company in the oil industry, experienced significant trading activity today, hitting its lower circuit limit. The stock closed at Rs 35.44, reflecting a decline of Rs 1.3 or 3.54% from the previous trading session. Notably, it reached an intraday low of Rs 34.9, marking a new 52-week low and a decrease of 5.01% during the day.
The stock has been on a downward trend, having fallen for six consecutive days, resulting in a total decline of 12.58% over this period. Aban Offshore's performance today underperformed its sector, which saw a slight increase of 0.47%. The total traded volume was approximately 1.43 lakh shares, with a turnover of Rs 0.51 crore, indicating a weighted average price closer to the low price.

Additionally, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging market position. Despite a notable increase in delivery volume, which rose by 305.81% against the 5-day average, the overall performance reflects ongoing struggles for Aban Offshore.