Nestle India Stock Declines by -3.16% on October 24th, Rated as 'Hold' by MarketsMOJO
Nestle India, a leading FMCG company in India, has seen a decline in its stock price by -3.16% on October 24th, 2024. This has been reflected in the stock call given by MarketsMOJO, which has rated the stock as 'Hold'. The stock has also hit a new 52-week low of Rs. 2261.9 on the same day.
Despite outperforming the sector by 0.91%, Nestle India has been on a downward trend for the past three days, with a fall of -3.93% during this period. The stock also touched an intraday low of Rs. 2261.9, which is a decrease of -2.8%.
Nestle India is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend in the stock. The FMCG sector as a whole has also seen a decline of -3.64%.
In comparison to the Sensex, Nestle India's performance in the past day and month has been -3.30% and -16.60% respectively, while the Sensex has only seen a decrease of -0.02% and -5.71% in the same time periods.
Investors and experts are advised to hold their positions on Nestle India stock, as the company's performance has been affected by the overall market trend. However, with its strong presence in the FMCG industry and a largecap size, Nestle India remains a stable and reliable investment option.
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