Essar Shipping's Stock Price Drops -7.47% After 'Strong Sell' Rating by MarketsMOJO
Essar Shipping, a smallcap company in the shipping industry, has seen a decline of -7.47% in its stock price on June 21, 2024. This drop in stock price has been attributed to the stock being given a 'Strong Sell' rating by MarketsMOJO.
The stock has underperformed the sector by -3.89% today and has also shown a trend reversal after three consecutive days of gains. It touched an intraday low of Rs 56.05, showing a high volatility of 32.82% calculated from the weighted average price.
Despite this recent decline, Essar Shipping is still trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This indicates that the stock has been performing well in the past and may continue to do so in the future.
In comparison to the overall market performance, Essar Shipping has shown a -7.47% decline while the Sensex has only seen a 0.13% increase. However, in the past month, Essar Shipping has outperformed the Sensex with a 90.35% increase compared to the Sensex's 4.90% increase.
Investors should keep an eye on Essar Shipping's performance in the coming days to see if it can bounce back from this decline or if it will continue to underperform the market.
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