CreditAccess Grameen Hits 52-Week Low Amidst Increased Market Volatility
CreditAccess Grameen's stock has seen a significant decline, reaching a new 52-week low and underperforming its sector. The company has faced consecutive losses over the past two days, with high volatility in trading. Currently, the stock is trading below multiple moving averages, indicating ongoing challenges.
CreditAccess Grameen, a midcap player in the finance and non-banking financial company (NBFC) sector, has experienced significant downward movement in its stock price today, losing 14.76%. The stock reached a new 52-week low of Rs. 750.05, marking a notable decline in its market position. Today's performance saw CreditAccess Grameen underperforming its sector by 13.4%, continuing a trend of consecutive losses over the past two days, during which it has recorded a total decline of 20.05%. The stock opened with a gap down of 6.88% and hit an intraday low of Rs. 750.05, reflecting a drop of 17.93% at its lowest point.
High volatility characterized the trading session, with an intraday volatility of 7.8%. Additionally, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging performance relative to its historical trends. Over the past month, CreditAccess Grameen has declined by 6.88%, compared to a 3.59% drop in the Sensex.
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