JSW Steel Ltd. Sees Decline in Stock Price, But Remains Strong in Steel Industry

Oct 08 2024 09:50 AM IST
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JSW Steel Ltd., a largecap company in the steel industry, saw a -3.58% decline in its stock price on October 8th, 2024. Despite this, the stock's moving averages are still higher than the industry average. In the past month, the stock has seen a positive growth of 6.21%, making it a strong player in the sector.

JSW Steel Ltd., a largecap company in the steel/sponge iron/pig iron industry, has seen a decline in its stock price by -3.58% on October 8th, 2024. According to MarketsMOJO, the stock is currently rated as 'Hold'.

The stock's performance today has underperformed the sector by -0.64%. It has also been on a downward trend for the past 3 days, with a fall of -4.9% in that period. The stock touched an intraday low of Rs 983.3, a decrease of -3.71%.

Despite this recent decline, JSW Steel's moving averages are still higher than the 20 day, 50 day, 100 day, and 200 day moving averages. However, it is currently lower than the 5 day moving average.

In the steel/sponge iron/pig iron sector, there has been a decrease of -2.25%.

Compared to the Sensex performance of 0.31%, JSW Steel's 1 day performance is -3.03%. Over the past month, the stock has seen a positive growth of 6.21%, while the Sensex has only grown by 0.15%.

Overall, JSW Steel Ltd. has experienced a decline in its stock price, but it still remains a strong player in the steel industry. Investors should keep an eye on the stock's performance in the coming days.
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