Indian Oil Corporation's Stock Declines -3.06% on October 21, 2024, Despite High Dividend Yield.

Indian Oil Corporation (IOC), one of the largest oil exploration and refining companies in India, saw a decline of -3.06% in its stock price on October 21, 2024. The stock call for IOC by MarketsMOJO is 'Hold', indicating a neutral stance on the company's performance.

The stock's performance today was underwhelming, as it underperformed the sector by -2.08%. It touched an intraday low of Rs 160.6, a decrease of -2.81% from the previous day's closing price. IOC's stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a downward trend.

Despite the decline in stock price, IOC offers a high dividend yield of 7.26% at the current price. This may be attractive to investors looking for stable returns.

In comparison to the overall market performance, IOC's stock has underperformed in the short term, with a -3.09% decline in the past day and a -4.25% decline in the past month. However, it is important to note that the Sensex, India's benchmark index, has also seen a decline of -3.81% in the past month.

Overall, Indian Oil Corporation's stock performance has been lackluster in the short term. However, with its strong presence in the oil exploration and refining industry and a high dividend yield, it may still be a viable option for long-term investors.