Manaksia Steels Ltd Shows Strong Market Resilience Amid Declining Investor Participation
Manaksia Steels Ltd, a microcap in the Ferrous Metals sector, reached its upper circuit limit today, with a notable intraday high and a last traded price of Rs 64.56. The stock has shown strong performance relative to moving averages, despite a decline in investor participation.
Manaksia Steels Ltd, a microcap player in the Ferrous Metals industry, has shown remarkable activity today, hitting its upper circuit limit with a notable intraday high of Rs 64.56, reflecting a 4.99% increase. The stock's last traded price also stands at Rs 64.56, marking an absolute change of Rs 3.07. In terms of trading volume, approximately 0.44983 lakh shares were exchanged, resulting in a turnover of Rs 0.2872 crore. The stock has outperformed its sector by 5.99% today, continuing a positive trend with gains over the last two days, accumulating a total return of 5.46% during this period.
Manaksia Steels is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong performance relative to these benchmarks. However, it is worth noting that investor participation has seen a decline, with delivery volume dropping by 72% compared to the 5-day average.
Overall, Manaksia Steels Ltd's performance today highlights its resilience in the market, showcasing significant gains and solid trading metrics.
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