Finolex Cables Ltd. sees positive growth in stock price, outperforms sector and market
On October 8, 2024, Finolex Cables Ltd. saw a 3.74% increase in its stock price, outperforming the sector by 1.73%. The stock is currently trading higher than its 200-day moving average, but lower than its shorter-term moving averages. It has also outperformed the Sensex on the same day, but underperformed in the past month. Investors are advised to hold their positions in the stock.
Finolex Cables Ltd., a leading player in the cable industry, has seen a positive growth in its stock price on October 8, 2024. The stock has gained 3.74%, outperforming the sector by 1.73%. The day's high for the stock was Rs 1348, which is a 4.05% increase from the previous day's closing price.
The stock is currently trading higher than its 200-day moving average, but lower than its 5-day, 20-day, 50-day, and 100-day moving averages. This indicates a mixed trend for the stock in the short term.
In the cable sector, Finolex Cables Ltd. has gained 2.05% on the same day. This shows a positive trend in the sector as well.
In comparison to the overall market performance, Finolex Cables Ltd. has outperformed the Sensex by 3.02% on the day, with a 1-day performance of 3.74% for the stock and 0.72% for the Sensex. However, in the past month, the stock has underperformed the Sensex by -5.48%, with a 1-month performance of -4.92% for the stock and 0.56% for the Sensex.
Overall, Finolex Cables Ltd. has shown a positive growth in its stock price on October 8, 2024, and has outperformed the sector and the overall market on the same day. However, in the past month, the stock has underperformed the market. Investors are advised to hold their positions in the stock, as recommended by MarketsMOJO.
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