HEG Ltd Faces Continued Stock Decline Amid Broader Market Volatility in Electrodes Sector

HEG Ltd, a midcap player in the Electrodes & Welding Equipment industry, has experienced a notable decline today, with shares dropping by 5.39%. This performance marks a continuation of a downward trend, as the stock has now fallen for three consecutive days, resulting in a total decline of 10.19% over this period. Opening the day with a gap down of 3.36%, HEG reached an intraday low of Rs 405.4, reflecting a significant drop of 14.63%. The stock has exhibited high volatility, with an intraday volatility rate of 78.59%. Despite this, HEG's moving averages indicate that it remains above the 20-day, 50-day, 100-day, and 200-day moving averages, although it is currently below the 5-day moving average. In the broader market context, the Sensex has shown resilience after a significant gap down opening, recovering 1,324.82 points from an initial drop. However, it remains 3.49% away from its 52-week low and is trading below its 50-day moving average. The Electrodes & Welding Equipment sector overall has seen a decline of 7.3%.