Protean eGov Technologies Faces Significant Volatility Amid Broader Market Challenges

Protean eGov Technologies, a small-cap player in the Computers - Software & Consulting industry, has experienced significant volatility today, opening with a loss of 12.78%. The stock's performance has notably underperformed its sector by 7.84%, reflecting a challenging market environment. Over the past two days, Protean eGov has seen a consecutive decline, accumulating a total drop of 26.41%.
Intraday trading revealed a low of Rs 981.55, marking a 14.13% decrease from the previous close. The stock's volatility today reached 5.23%, indicating heightened market fluctuations. In terms of moving averages, Protean eGov is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day averages, suggesting a bearish trend.

In the broader market context, the stock's one-day performance stands at -8.18%, contrasting sharply with the Sensex's modest decline of 0.91%. Over the past month, Protean eGov has faced a steep drop of 27.81%, while the Sensex has gained 3.51%. With a beta of 1.35, the stock is classified as high beta, indicating it tends to exhibit greater price movements compared to the overall market.