Essar Shipping Ltd Stock Hits Lower Circuit Limit at Intraday Low of Rs 30.95

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 31.2, reflecting a decline of Rs 1.38 or 4.24% from the previous close. The stock opened with a notable gap down, starting the day at Rs 31.0, and reached an intraday low of Rs 30.95, marking a drop of 4.85% during the session.
Total traded volume reached approximately 1.29 lakh shares, with a turnover of Rs 0.40 crore. The stock has been on a downward trend, underperforming its sector by 4.43% and recording a consecutive fall over the last two days, resulting in a total decline of 6.63% in that period. Notably, the delivery volume has decreased significantly, falling by 49.09% compared to the five-day average.

Despite being above the 50-day, 100-day, and 200-day moving averages, the stock remains below the 5-day and 20-day moving averages, indicating a shift in momentum. Overall, Essar Shipping Ltd's performance today underscores the challenges it faces in the current market environment.