Deepak Nitrite's Stock Sees -3.03% Decline, But Remains Strong in Chemical Industry

Deepak Nitrite ., a largecap chemical company, saw a decline of -3.03% in its stock price on August 23, 2024. This underperformance was noted by MarketsMOJO, who has given a 'Hold' call for the stock.

The stock has been on a downward trend for the past two days, with a fall of -3.54% during this period. On the same day, the stock touched an intraday low of Rs 2846.8, a decrease of -3.22%.

Despite this recent decline, Deepak Nitrite's stock is still performing well in the long term. It is currently trading higher than its 50-day, 100-day, and 200-day moving averages. However, it is lower than its 5-day and 20-day moving averages.

In comparison to the overall market performance, Deepak Nitrite's stock has underperformed, with a -3.02% decrease compared to the Sensex's -0.03% decrease on the same day. However, in the past month, the stock has outperformed the Sensex with a 1.01% increase compared to the Sensex's 0.74% increase.

Overall, Deepak Nitrite . remains a strong player in the chemical industry, with a largecap size. While the recent stock performance may be a cause for concern, the company's long-term performance and market position should not be overlooked. Investors should carefully consider their options before making any decisions regarding Deepak Nitrite's stock.