Manaksia Steels Ltd Shows Strong Market Momentum Amid Declining Investor Participation
Manaksia Steels Ltd, a microcap in the steel industry, reached its upper circuit limit today, with significant trading activity. The stock has shown consecutive gains over the past two days and is trading above key moving averages, despite a decline in investor participation.
Manaksia Steels Ltd, a microcap player in the Steel/Sponge Iron/Pig Iron industry, has shown remarkable activity today, hitting its upper circuit limit. The stock reached an intraday high of Rs 62.49, reflecting a gain of 3.99% from its opening price. The last traded price stands at Rs 60.09, marking an absolute change of 2.86 and a percentage change of 5.0%.In terms of trading volume, approximately 0.07387 lakh shares were exchanged, resulting in a turnover of Rs 0.0443 crore. Notably, Manaksia Steels has outperformed its sector by 1.34% today and has recorded consecutive gains over the last two days, accumulating a total return of 6.6% during this period.
The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong performance trend. However, it is worth noting that investor participation has seen a decline, with delivery volume dropping significantly compared to the 5-day average.
Overall, Manaksia Steels Ltd's performance today highlights its upward momentum in the market, reflecting positive trends within the steel sector.
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