LIC Housing Finance Stock Sees Dip, But Remains Stable and Recommended as 'Buy' by MarketsMOJO

LIC Housing Finance, a leading housing finance company in India, has recently seen a dip in its stock price. On September 16, 2024, the company's stock fell by -3.36%, underperforming the sector by -2%. However, this should not be a cause for concern for investors as the stock has been recommended as a 'Buy' by MarketsMOJO.

Despite the recent dip, LIC Housing Finance's stock is still performing well in the market. It is currently trading higher than its 5 day, 20 day, 100 day, and 200 day moving averages, indicating a positive trend. However, it is lower than its 50 day moving average, which could be a sign of a short-term correction.

On the day of the dip, the stock touched an intraday low of Rs 707.75, a decrease of -2.16%. This could be attributed to a trend reversal as the stock had seen two consecutive days of gains prior to this.

In comparison to the overall market performance, LIC Housing Finance's stock has underperformed the Sensex by -3.51% in the past day and has outperformed it by 6.05% in the past month. This shows that the company's stock has been relatively stable and has not been affected by any major market fluctuations.

Overall, LIC Housing Finance remains a strong player in the housing finance industry, with a large market cap. Investors should not be deterred by the recent dip in stock price and can consider this as an opportunity to buy into a promising company.