Nuvama Wealth Management Stock Declines on NSE, Given 'Hold' Call by MarketsMOJO

Nuvama Wealth Management, a leading finance and non-banking financial company (NBFC), saw a decline in its stock price on November 11, 2024. The stock lost -3.52% and closed at Rs 6800.75 on the National Stock Exchange (NSE).

According to MarketsMOJO, a leading stock market analysis platform, the stock has been given a 'Hold' call. It underperformed the sector by -3.03% on the day. This is the second consecutive day of decline for Nuvama Wealth Management, with a total fall of -7.49% in the past two days.

The stock touched an intraday low of Rs 6782.75, a decrease of -3.52% from its previous close. However, the stock's moving averages are still higher than the 50-day, 100-day, and 200-day moving averages, indicating a positive trend in the long term. But it is currently lower than the 5-day and 20-day moving averages, suggesting a short-term decline.

In comparison to the overall market performance, Nuvama Wealth Management's stock has underperformed. On the day of November 11, 2024, the stock's performance was -2.79% while the Sensex's performance was 0.44%. In the past month, the stock has shown a positive return of 2.10%, while the Sensex has declined by -1.89%.

Investors are advised to hold their positions in Nuvama Wealth Management and keep an eye on the stock's performance in the coming days. With its strong presence in the finance and NBFC industry, the company has the potential for long-term growth.