IRIS Business Services Ltd Sees Strong Buying Activity Amid Market Shift

IRIS Business Services Ltd is witnessing significant buying activity today, with the stock rising by 3.35%. This performance stands in stark contrast to the Sensex, which has only increased by 0.32%. Over the past week, IRIS has shown a robust gain of 10.86%, while the Sensex has marginally risen by 0.36%. Notably, the stock has reversed its trend after two consecutive days of decline, indicating a potential shift in market sentiment.
The stock reached an intraday high of Rs 342.6, reflecting the strong buying pressure. Despite a challenging month where it fell by 8.40%, IRIS has demonstrated impressive performance over the longer term, with a 37.04% increase over the past three months and a remarkable 289.32% rise over the last three years.

The software products sector, particularly BPO/ITeS, has also seen gains, rising by 3.46%, which may contribute to the positive momentum for IRIS. The stock's current price is above its 5-day, 50-day, and 100-day moving averages, suggesting a favorable short-term trend, although it remains below the 20-day and 200-day moving averages.