Essar Shipping Ltd Hits Lower Circuit Limit with Stock Closing at Rs 28.17

Essar Shipping Ltd, a microcap player in the Transport Services industry, experienced significant trading activity today as the stock hit its lower circuit limit. The last traded price stood at Rs 28.17, reflecting a decline of Rs 1.49 or 5.02% from the previous close. The stock reached an intraday low of Rs 28.17, indicating a notable drop after two consecutive days of gains.
Total traded volume for the day was approximately 3.01 lakh shares, resulting in a turnover of around Rs 0.86 crore. The stock's performance today underperformed its sector by 3.56%, with a 1D return of -4.59%, contrasting with the sector's return of -1.54% and the Sensex's decline of 0.38%.

Despite the stock trading above its 5-day, 20-day, and 50-day moving averages, it remains below the 100-day and 200-day moving averages. The weighted average price suggests that more volume was traded closer to the low price, indicating a shift in market sentiment. Overall, Essar Shipping Ltd's performance today reflects a challenging trading environment, marked by increased volatility and a significant drop in value.