Mangalore Refinery Faces Continued Decline Amid Broader Market Weakness
Mangalore Refinery & Petrochemicals Ltd. has seen a significant decline in its stock price, continuing a downward trend over the past few days. The stock's performance has been mixed in relation to moving averages, while broader market sentiment remains bearish, with the Sensex experiencing a losing streak.
Mangalore Refinery & Petrochemicals Ltd. has experienced a notable decline of 3.3% today, continuing a downward trend that has seen the stock fall by 12.46% over the past three days. The stock's performance today underperformed the sector by 3.16%, reflecting broader market challenges. Intraday, Mangalore Refinery reached a low of Rs 136.2, marking a decrease of 3.23%. In terms of moving averages, the stock is currently above its 100-day moving average but below its 5-day, 20-day, 50-day, and 200-day moving averages, indicating mixed short-term performance.
The overall market sentiment is also bearish, with the Sensex down by 412.35 points, or 0.71%, after a negative opening. The Sensex has been on a three-week losing streak, down 1.95% during this period.
Over the past month, Mangalore Refinery has declined by 5.22%, while its year-to-date performance shows a decrease of 8.26%. In contrast, the stock has shown resilience over longer periods, with a three-year increase of 82.44% and a five-year increase of 268.83%.
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