CreditAccess Grameen Faces Significant Volatility Amidst Underperformance in NBFC Sector
CreditAccess Grameen has faced notable volatility in trading, opening significantly lower and reaching a new 52-week low. The stock has declined for two consecutive days, underperforming its sector and the broader market. It is currently trading below multiple moving averages, indicating a bearish trend and high intraday volatility.
CreditAccess Grameen, a midcap player in the finance and non-banking financial company (NBFC) sector, has experienced significant volatility in today's trading session. The stock opened with a notable loss of 6.88%, marking a new 52-week low of Rs. 750.05, which it reached during intraday trading. This decline has contributed to a two-day consecutive fall, with the stock now down 20.05% over this brief period.In terms of performance metrics, CreditAccess Grameen has underperformed its sector by 13.4% today, with a one-day performance decline of 14.49%, compared to the Sensex's modest drop of 0.41%. Over the past month, the stock has also lagged, showing a decrease of 6.88% against the Sensex's decline of 3.59%.
The stock's trading patterns indicate it is currently below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, reflecting a bearish trend. Additionally, the stock has exhibited high volatility today, with an intraday volatility rate of 7.8%, calculated from the weighted average price.
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