Mukand Ltd Hits New 52-Week Low Amid Broader Market Declines
Mukand Ltd, a small-cap company in the steel sector, experienced a significant stock decline, reaching a new 52-week low. The stock has underperformed compared to its sector and broader market indices, with notable cumulative losses over recent days and a bearish trend indicated by moving averages.
Mukand Ltd, a small-cap entity in the steel, sponge iron, and pig iron sector, has faced significant challenges today, with its stock price declining by 8.53% on January 13, 2025. This drop brought the stock to a new 52-week low of Rs. 114.95, highlighting a stark underperformance compared to its sector, which saw a decrease of 3.23%.The trading session began with a gap down of 6.1%, and the stock reached an intraday low of Rs. 114.95, reflecting a decrease of 7.11% at its lowest point. Over the last three days, Mukand has experienced a cumulative decline of 10.78%. Currently, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a prevailing bearish trend.
In the context of broader market dynamics, Mukand's one-day decline of 8.40% stands in stark contrast to the Sensex, which only fell by 1.29%. Over the past month, Mukand's stock has plummeted by 22.26%, while the Sensex has decreased by 7.01%, further emphasizing the stock's recent struggles.
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