Intraday Performance and Price Movement
MRPL’s share price fell sharply during the trading session, registering a day change of -7.08%. The stock’s intraday low of Rs 161.2 represented a significant 8.67% drop from its prior levels. This decline was more pronounced than the Oil Exploration and Refinery sector’s fall of -2.68%, indicating specific pressures on MRPL beyond sectoral trends.
The stock has now recorded losses for two consecutive days, with a cumulative return decline of -6.68% over this period. Despite this short-term weakness, MRPL continues to trade above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling that the longer-term technical trend remains intact.
Market Context and Sector Comparison
The broader market environment on 1 Feb 2026 was challenging. The Sensex, after opening 119.19 points higher, reversed sharply to close down by 1,531.99 points or -1.72%, settling at 80,856.98. This reversal contributed to a negative sentiment across sectors, including oil and refining. Notably, the Sensex was trading below its 50-day moving average, although the 50DMA itself remains above the 200DMA, indicating some underlying market resilience despite the pullback.
Within this context, MRPL’s decline of -7.17% on the day was significantly steeper than the Sensex’s fall, underscoring the stock’s relative underperformance. Over the past week, however, MRPL has outperformed the benchmark, delivering a 5.47% gain compared to the Sensex’s -0.83%. This contrast highlights the stock’s recent volatility amid broader market fluctuations.
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Longer-Term Performance and Market Capitalisation
Despite the recent intraday weakness, MRPL’s longer-term performance remains robust. The stock has delivered a 1-year return of 29.78%, significantly outperforming the Sensex’s 5.34% gain over the same period. Year-to-date, MRPL has appreciated by 7.65%, while the Sensex has declined by 5.12%. Over three and five years, MRPL’s returns stand at 184.46% and 355.77% respectively, well ahead of the Sensex’s 35.89% and 74.69% gains.
MRPL’s market capitalisation grade is rated 3, reflecting its standing within the Oil sector and its relative size. The company’s Mojo Score of 77.0 and upgraded Mojo Grade to Buy (from Hold on 27 Jan 2026) indicate a positive assessment of its fundamentals and market position, despite the short-term price pressures observed today.
Sectoral and Technical Considerations
The Oil Exploration and Refinery sector has faced a decline of -2.68% on the day, influenced by broader market volatility and commodity price fluctuations. MRPL’s sharper decline relative to the sector suggests that intraday trading pressures were more acute for this stock, possibly reflecting profit-taking or sector rotation among investors.
Technically, MRPL’s position above all major moving averages provides a cushion against further downside, although the immediate price action indicates caution among traders. The stock’s relative underperformance today, combined with the Sensex’s sharp reversal, points to a risk-off sentiment prevailing in the market.
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Summary of Price Pressure and Market Sentiment
MRPL’s intraday low of Rs 161.2 and a day decline exceeding 7% reflect immediate price pressure amid a broadly negative market environment. The stock’s sharper fall compared to both the Oil sector and the Sensex highlights its vulnerability to current market sentiment shifts. The Sensex’s sharp reversal from a positive open to a significant loss contributed to a risk-averse mood, impacting stocks like MRPL more severely.
While the stock remains technically supported by its moving averages and retains a positive Mojo Grade, the short-term trading session was dominated by selling pressure. This suggests that market participants were cautious, possibly responding to broader macroeconomic or sector-specific factors influencing oil and refinery stocks on this day.
Overall, MRPL’s performance today underscores the volatility inherent in the current market phase, with intraday fluctuations reflecting both sectoral dynamics and wider market corrections.
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