Allcargo Logistics Hits Day Low of Rs 12.4 Amid Price Pressure

Allcargo Logistics has experienced significant volatility today, hitting an intraday low of Rs 12.4, marking a substantial decline of 63.4%. This drop comes as the stock has underperformed the sector by 65.09%, continuing a downward trend that has seen it lose 65.29% over the past two days. The stock opened with a notable gap down, reflecting a loss of 63.4% from the previous close. Currently, Allcargo Logistics is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent bearish trend. In contrast, the broader market, represented by the Sensex, is showing positive momentum, trading up by 0.64% after opening higher. The Sensex is also nearing its 52-week high, highlighting a divergence in performance between Allcargo Logistics and the overall market. This stark contrast in performance metrics underscores the challenges faced by Allcargo Logistics in the current market environment.