Nahar Spinning Mills Stock Declines by -7.58% Amidst Textile Industry Struggles

Aug 05 2024 11:20 AM IST
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On August 5th, 2024, Nahar Spinning Mills, a smallcap company in the textile industry, saw a decline in its stock price by -7.58%. This has led to a 'Sell' call by MarketsMojo. The stock has underperformed the sector by -6.28% and has been on a consecutive fall for the last 4 days, with a total decline of -14.65% during this period. The textile sector as a whole has also fallen by -3.12%. Investors and experts are advised to monitor the performance of Nahar Spinning Mills and the textile sector as the stock market remains volatile.

Nahar Spinning Mills, a smallcap company in the textile industry, has seen a decline in its stock price by -7.58% on August 5th, 2024. This has led to a 'Sell' call by MarketsMOJO. The stock has underperformed the sector by -6.28% and has been on a consecutive fall for the last 4 days, with a total decline of -14.65% during this period.

The stock opened with a gap down of -9.46% today and touched an intraday low of Rs 320.05 (-9.46%). However, the moving averages for the company are still higher than the 50 day, 100 day, and 200 day moving averages, but lower than the 5 day and 20 day moving averages.

In the textile sector, Nahar Spinning Mills is not the only company facing a decline. The sector as a whole has fallen by -3.12%. In comparison, the 1 day performance of Nahar Spinning Mills Ltd is -7.98%, while the Sensex performance is -2.96%. Similarly, the 1 month performance of the company is 5.93%, while the Sensex has seen a decline of -1.76%.

Investors and experts are advised to carefully monitor the performance of Nahar Spinning Mills and the textile sector as a whole, as the stock market continues to be volatile. This information is based on facts and figures and does not include any external data or sources.
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