Onward Technologies Faces Significant Volatility Amid Broader IT Sector Challenges
Onward Technologies, a microcap in the IT software sector, has faced notable volatility, reaching a 52-week low and trading below key moving averages. The stock has declined 6.22% over two days, significantly underperforming its sector, while the broader IT industry and Sensex also experienced downturns.
Onward Technologies, a microcap player in the IT software industry, has experienced significant volatility today, touching a 52-week low. The stock is currently trading just 0.58% above this low, which stands at Rs 246.55. Over the past two days, Onward Technologies has seen a decline of 6.22%, underperforming its sector by 0.97%. Today, the stock reached an intraday low of Rs 247.95, reflecting a drop of 4.4%.In terms of moving averages, Onward Technologies is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a bearish trend. The broader IT software sector has also faced challenges, falling by 3.55% amid a broader market downturn. The Sensex has sharply declined, dropping 831.53 points to 75,328.56, and is currently trading below its 50-day moving average, which is itself below the 200-day moving average.
Over the past year, Onward Technologies has seen a performance decline of 48.67%, contrasting sharply with the Sensex's modest gain of 1.50%. The stock's 52-week high was recorded at Rs 516.2.
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