Kitex Garments Faces Continued Decline Amid Broader Textile Sector Weakness
Kitex Garments Ltd, a small-cap in the Garments & Apparels sector, faced notable trading activity, hitting its lower circuit limit and closing at Rs 215.93. This marks the seventh consecutive day of losses, with the stock trading below key moving averages, indicating ongoing challenges in the market.
Kitex Garments Ltd, a small-cap player in the Garments & Apparels industry, experienced significant trading activity today, hitting its lower circuit limit. The stock closed at Rs 215.93, reflecting a decline of 11.37 points or 5.0% from the previous session. This marks the seventh consecutive day of losses for Kitex Garments, with a total decline of 17.46% over this period.The stock opened lower, down 2.29%, and reached an intraday low of Rs 215.93, which aligns with the stock's price band limit of 5%. Total traded volume for the day was approximately 5.08 lakh shares, resulting in a turnover of Rs 11.11 crore. Notably, the stock has been trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a sustained downward trend.
In comparison, the broader textile sector fell by 2.24%, while Kitex Garments underperformed the sector by 2.83%. The stock's liquidity remains adequate, with a delivery volume of 1.28 lakh shares, which is 113.73% higher than the 5-day average. Overall, Kitex Garments continues to face challenges in the current market environment.
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