Finolex Cables Faces Continued Stock Decline Amid Broader Market Weakness
Finolex Cables Ltd. has faced a significant decline in stock performance, losing 5.08% on February 11, 2025, and continuing a downward trend over two days with a total drop of 6.63%. The stock has underperformed compared to its sector and broader market indices, trading below key moving averages.
Finolex Cables Ltd., a midcap player in the cable industry, has experienced a notable decline in its stock performance today, with a loss of 5.08% as of February 11, 2025. This downturn marks a continuation of a downward trend, as the stock has now fallen for two consecutive days, accumulating a total decline of 6.63% during this period.In terms of market positioning, Finolex Cables has underperformed relative to its sector, which has seen an overall decline of 3.81%. The stock's performance today is particularly stark when compared to the broader market, with the Sensex showing a loss of only 1.00%.
The stock reached an intraday low of Rs 918.05, reflecting a drop of 5.04%. Additionally, Finolex Cables is currently trading below its moving averages across various time frames, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Over the past month, the stock has recorded a significant decline of 12.67%, further highlighting its recent struggles in the market.
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