Hexa Tradex Gains 0.79%: 7 Key Factors Driving the Week’s Mixed Momentum

2 February: Rating Upgrade Signals Stabilising Technical Outlook

Hexa Tradex Ltd began the week with a 1.45% gain, closing at ₹160.70 on 2 February 2026, following an upgrade in its investment rating from Strong Sell to Sell by MarketsMOJO. This upgrade reflected a nuanced shift in the company’s technical indicators, including a move from bearish to mildly bearish trends. Weekly MACD readings turned mildly bullish, and the monthly RSI showed improving momentum, although daily moving averages remained bearish. Despite these mixed signals, the upgrade suggested a cautious optimism amid persistent operational challenges.

The stock’s 52-week range of ₹149.75 to ₹237.00 placed the current price near the lower band, underscoring the uphill task in regaining investor confidence. The company’s financial performance remained flat, with negative EBITDA continuing to weigh on sentiment. Institutional interest was limited, with domestic mutual funds holding just 0.1% of shares, reflecting cautious positioning.

3 February: Stock Hits 52-Week Low Amid Underperformance

On 3 February, Hexa Tradex’s share price declined 0.47% to ₹159.95, marking a 52-week low. This drop occurred despite a volatile market where the Sensex surged 2.63%, highlighting the stock’s divergence from broader market strength. Technical analysis showed the stock trading below all key moving averages, signalling a bearish trend and limited near-term upside.

Trading irregularities, including a missed trading day in the prior 20 sessions, suggested liquidity concerns. Financially, the company’s profits had increased by 209.9% over the past year, yet EBITDA remained negative, contributing to valuation risks. The stock’s underperformance extended over multiple timeframes, lagging the Sensex and BSE500 indices, reflecting sectoral headwinds and company-specific challenges.

4 February: Technical Momentum Turns More Bearish

The stock closed at ₹159.95 on 4 February, unchanged from the previous day, but technical momentum shifted towards a more bearish stance. Weekly MACD remained mildly bullish, but the monthly MACD deteriorated into bearish territory. The RSI readings were mixed, with a neutral weekly RSI and a bullish monthly RSI. Bollinger Bands indicated mild bearishness, with the stock price near the lower band, signalling selling pressure.

Daily moving averages and the KST indicator confirmed bearish momentum, while Dow Theory assessments labelled the trend as mildly bearish. On-Balance Volume showed no clear trend, suggesting indecision among traders. Relative to the Sensex, Hexa Tradex lagged significantly, declining 1.27% while the Sensex gained 2.30%. Year-to-date and one-year returns also reflected underperformance, underscoring ongoing challenges.

5 February: Mixed Signals Amid Slight Technical Recovery

On 5 February, the stock gained 1.98%, closing at ₹158.30, signalling a tentative improvement in technical momentum. The weekly MACD was mildly bullish, and the monthly RSI remained positive, though daily moving averages continued to signal bearishness. Bollinger Bands suggested persistent downward pressure despite the intraday strength.

The KST and Dow Theory indicators remained bearish, and volume trends showed no decisive support for a sustained rally. Relative to the Sensex, Hexa Tradex underperformed over the week and month, though its long-term returns remained impressive, with five- and ten-year gains exceeding 280% and 900% respectively. The company’s Mojo Score stayed at 31.0 with a Sell rating, reflecting cautious optimism tempered by persistent risks.

6 February: Quarterly Results Reveal Sharp Profit Decline and Negative Trend

Hexa Tradex reported a significant deterioration in its December 2025 quarter results, with a net loss after tax of ₹4.35 crores, a decline of 181.1% compared to the previous four-quarter average. Profit Before Depreciation, Interest and Taxes (PBDIT) plunged to a negative ₹3.86 crores, marking the lowest quarterly figure on record. Profit Before Tax excluding Other Income also fell sharply to a negative ₹4.52 crores. Earnings per share dropped to ₹-0.79, signalling a deepening operational crisis.

The company’s financial trend score shifted from flat to negative, prompting a downgrade of its Mojo Grade back to Strong Sell. Despite these weak fundamentals, the stock closed slightly higher at ₹161.97, up 0.73% intraday. The 52-week trading range remained wide, reflecting ongoing volatility. Year-to-date and one-year returns showed notable underperformance relative to the Sensex, highlighting the challenges Hexa Tradex faces amid sectoral pressures and competitive headwinds.

Long-term returns remain strong, with five- and ten-year gains of 278.88% and 899.81% respectively, underscoring the company’s historical growth despite recent setbacks. The NBFC sector’s regulatory and credit environment continues to pose risks, and investors will be watching closely for signs of stabilisation in upcoming quarters.

Weekly Price Performance: Hexa Tradex Ltd vs Sensex

Key Takeaways

Positive Signals: The upgrade from Strong Sell to Sell early in the week reflected stabilising technical indicators, including a mildly bullish weekly MACD and improving monthly RSI. The stock’s long-term returns remain impressive, with five- and ten-year gains well above the Sensex, indicating historical resilience and growth potential.

Cautionary Factors: Despite short-term technical improvements, the stock hit a 52-week low on 3 February and remained below all key moving averages, signalling persistent bearish momentum. The sharp quarterly loss and negative financial trend downgrade on 6 February highlight deepening operational challenges. Limited institutional interest and negative EBITDA further weigh on the outlook.

Market Context: Hexa Tradex underperformed the Sensex throughout the week, with the benchmark index gaining 1.51% compared to the stock’s 0.79% rise. Mixed technical signals and subdued volume trends suggest limited conviction among investors, while sectoral headwinds in the NBFC space add to the uncertainty.

Conclusion

Hexa Tradex Ltd’s week was characterised by a complex interplay of stabilising technical signals and deteriorating financial fundamentals. The modest weekly gain belies the underlying challenges revealed by a 52-week low and a sharp quarterly loss. While the upgrade to a Sell rating early in the week offered some optimism, the subsequent negative financial trend and operational setbacks underscore the need for caution. Investors should monitor upcoming quarterly results and technical momentum closely, as the stock navigates a difficult environment marked by mixed signals and sectoral pressures. The company’s strong long-term track record provides some context, but near-term volatility and fundamental risks remain significant.

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