Garware Technical Fibres Hits Day Low Amid Price Pressure, Drops 7.83%
Garware Technical Fibres has faced a notable decline, dropping for four consecutive days and experiencing a significant decrease today. The stock is trading below multiple moving averages and is nearing its 52-week low. In contrast, the broader market shows positive performance, highlighting Garware's underperformance relative to its sector.
Garware Technical Fibres has experienced a significant decline today, with the stock dropping by 7.83%. The stock reached an intraday low of Rs 675.35, marking an 8.46% decrease. This downturn continues a trend of consecutive losses, as Garware has fallen for four consecutive days, resulting in an overall decline of 11.09% during this period.In terms of performance metrics, Garware Technical Fibres is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position. The stock is also just 1.91% away from its 52-week low of Rs 664.1.
Comparatively, the broader market, represented by the Sensex, is showing a positive trend, trading at 83,397.26 with a slight gain of 0.22%. However, Garware's performance has notably underperformed against the sector, with a 7.92% deficit today. Over the past month, the stock has declined by 9.66%, contrasting sharply with the Sensex's gain of 1.09%.
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