Mangalore Refinery Faces Continued Stock Volatility Amid Broader Market Fluctuations

Mangalore Refinery & Petrochemicals Ltd. has experienced significant volatility today, with the stock declining by 7.56%. This marks a continued downward trend, as the stock has now fallen for three consecutive days, resulting in a total decline of 10.21% over this period. The stock opened sharply lower, with a gap down of 15.2%, reaching an intraday low of Rs 114.4.
In terms of performance metrics, Mangalore Refinery has underperformed its sector, which has seen a decline of 5.93%. The stock's performance over various time frames shows a stark contrast; while it has gained 9.76% over the past month, it has suffered a 47.57% drop over the past year. Year-to-date, the stock is down 15.87%, compared to a 6.87% decline in the broader market.

Currently, Mangalore Refinery's moving averages indicate that it is trading above its 50-day moving average but below its 5-day, 20-day, 100-day, and 200-day averages. This reflects the stock's recent struggles amid a challenging market environment, as the Sensex itself has faced significant fluctuations, currently trading at 72,774.76, down 3.44%.