Morarjee Textiles Ltd Stock Hits Lower Circuit Limit at Rs 8.91 Amid High Volatility
Morarjee Textiles Ltd, a microcap in the Garments & Apparels sector, faced notable trading activity, hitting its lower circuit limit and closing at Rs 8.91. The stock showed high volatility with significant fluctuations and a sharp decline in investor participation, indicating a challenging trading environment.
Morarjee Textiles Ltd, a microcap player in the Garments & Apparels industry, experienced significant trading activity today, hitting its lower circuit limit. The stock closed at Rs 8.91, reflecting a decline of 0.47 points or 5.01% from the previous trading session. This drop marks a trend reversal after two consecutive days of gains.During the trading session, Morarjee Textiles reached an intraday low of Rs 8.91, with a high of Rs 9.49, indicating high volatility with an intraday fluctuation of 5.8%. The total traded volume was approximately 0.01757 lakh shares, resulting in a turnover of Rs 0.001569 crore. Notably, the stock underperformed its sector by 5.18%, while the broader market, represented by the Sensex, saw a slight decline of 0.31%.
The stock's performance today also highlighted a significant drop in investor participation, with delivery volume plummeting by 93.3% compared to the five-day average. Despite being above the 50, 100, and 200-day moving averages, it fell below the 5 and 20-day averages, indicating a shift in market sentiment. Overall, Morarjee Textiles' performance today reflects a challenging trading environment.
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