Muthoot Finance Faces Stock Decline Amid Broader Market Gains in October 2023
Muthoot Finance's stock price fell today, closing at Rs 2228.25 after reaching an intraday low. Despite this decline, the company remains close to its 52-week high and has shown resilience over the past month, outperforming the broader market while trading above key moving averages.
Muthoot Finance, a prominent player in the finance and non-banking financial company (NBFC) sector, has experienced notable activity today, with its stock price declining by 4.02%. The stock closed at Rs 2228.25, marking a significant intraday low of Rs 2228.25, which is 3.85% lower than its previous close. Despite this downturn, Muthoot Finance remains just 4.72% away from its 52-week high of Rs 2335.In terms of performance metrics, Muthoot Finance underperformed the sector by 3.33% today, contrasting with the broader market, as reflected by the Sensex, which gained 0.30%. However, the company has shown resilience over the past month, with a performance increase of 4.42%, while the Sensex recorded a slight decline of 0.17%.
Notably, Muthoot Finance is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong long-term trend. As a large-cap company in the finance sector, Muthoot Finance continues to be a significant player in the market landscape.
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