Gallantt Ispat Ltd. Stock Declines by -5.15% in Line with Sector Trend

Gallantt Ispat Ltd., a midcap company in the steel/sponge iron/pig iron industry, has seen a decline in its stock price by -5.15% on October 22, 2024. This underperformance is reflected in the stock's 'Hold' rating by MarketsMOJO.

The stock has been on a downward trend for the past two days, with a fall of -8.14% during this period. On the day of October 22, the stock touched an intraday low of Rs 337.9, a decrease of -5.19%. While the stock's performance is higher than its 200-day moving average, it is lower than its 5-day, 20-day, 50-day, and 100-day moving averages.

In the steel/sponge iron/pig iron sector, Gallantt Ispat Ltd. has seen a decline of -2.06%. This is in line with the overall trend in the sector.

Comparing the stock's performance to the Sensex, Gallantt Ispat Ltd. has underperformed with a -5.15% decrease, while the Sensex has only seen a -0.30% decrease. Over the past month, the stock has seen a decline of -14.09%, while the Sensex has seen a decrease of -4.30%.

Overall, Gallantt Ispat Ltd. has seen a decline in its stock price, in line with the trend in the steel/sponge iron/pig iron sector. Investors are advised to hold their positions in the stock, as suggested by MarketsMOJO.