HPCL Stock Declines by -3.09% on October 22, Still Outperforms Market in Long Term

Hindustan Petroleum Corporation Ltd. (HPCL) has seen a decline in its stock price by -3.09% on October 22, 2024. The stock has been on a downward trend for the past four days, with a consecutive fall of -7.18% during this period. This underperformance is reflected in the stock's performance today, as it has underperformed the sector by -1.26%. Despite this recent decline, HPCL's stock is still trading higher than its 100-day and 200-day moving averages. However, it is currently lower than its 5-day, 20-day, and 50-day moving averages. This indicates a mixed trend for the stock in the short term. On October 22, the stock touched an intraday low of Rs 403, which is a decrease of -2.94% from its previous close. At the current price, HPCL offers a high dividend yield of 3.97%. In comparison to the overall market performance, HPCL's stock has underperformed the Sensex by -2.95% in the past day and has outperformed by 1.18% in the past month. This suggests that while the stock may have seen a recent decline, it has still performed better than the overall market in the longer term. Based on these factors, MarketsMOJO has given a 'Hold' call for HPCL's stock. Investors should keep an eye on the stock's performance in the coming days to make informed decisions about their investments.