Manaksia Steels Ltd Hits Upper Circuit Limit Amid Broader Market Decline

Manaksia Steels Ltd, a player in the Ferrous Metals industry, has shown significant activity today as it hit its upper circuit limit. The stock reached an intraday high of Rs 65.77, reflecting a notable increase of 5% from its opening price. This performance is particularly impressive as it outperformed its sector by 4.51%, while the broader market, represented by the Sensex, experienced a slight decline of 0.05%.
The stock's last traded price (LTP) stands at Rs 65.77, with a total traded volume of approximately 0.27234 lakh shares, resulting in a turnover of Rs 0.1791 crore. Notably, Manaksia Steels is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend in its performance metrics.

Despite a significant drop in delivery volume, which fell by 88.46% against the 5-day average, the stock's liquidity remains adequate for trading. Overall, Manaksia Steels Ltd's performance today highlights its robust market position within the microcap segment, showcasing resilience in a fluctuating market environment.