Finolex Cables Faces Sustained Decline Amid Broader Sector Challenges
Finolex Cables Ltd. has faced significant losses, marking four consecutive days of decline and a total drop of 11.47%. The stock has underperformed compared to its sector and has decreased by 21.79% over the past month, while the broader market has seen a smaller decline.
Finolex Cables Ltd. has been experiencing notable downward momentum, with a decline of 5.11% on January 13, 2025. This marks the fourth consecutive day of losses, totaling an 11.47% drop during this period. The stock reached an intraday low of Rs 991.8, reflecting a decrease of 5.24% for the day.In comparison to its sector, Finolex Cables has underperformed, falling 1.39% below the sector average. Over the past month, the stock has seen a significant decline of 21.79%, while the broader Sensex index has only decreased by 6.55%. Additionally, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a sustained period of underperformance. The overall cable sector has also faced challenges, with a decline of 3.47%.
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