Gujarat Gas Ltd. Stock Sees -4.31% Decline, MarketsMOJO Gives 'Hold' Call

Gujarat Gas Ltd., a leading player in the gas transmission and marketing industry, has seen a decline of -4.31% in its stock price on October 18, 2024. This has been reflected in the 'Hold' call given by MarketsMOJO for the stock.

The stock opened with a loss of -2.22% today and touched an intraday low of Rs 544.85 (-4.86%). It has been on a downward trend for the last 6 days, with a fall of -9.11% in this period. Gujarat Gas Ltd. is currently trading below its 5 day, 20 day, 50 day, 100 day, and 200 day moving averages, indicating a bearish sentiment in the market.

The gas transmission/ marketing sector as a whole has also seen a decline of -4.02%, further adding to the negative sentiment. In comparison, the Sensex has only seen a decline of -0.56% in the same time period.

While Gujarat Gas Ltd. has underperformed the market in the short term, its long term performance has also been affected with a -9.78% decline in the last month, compared to the Sensex's -2.89% decline.

Despite these recent declines, Gujarat Gas Ltd. remains a largecap company in the industry and continues to be a key player in the gas transmission and marketing sector. Investors should keep a close eye on the stock's performance in the coming days.