Intraday Trading Highlights
On the trading day, Refex Industries Ltd recorded a day change of 7.02%, significantly surpassing the Sensex’s modest gain of 0.39%. The stock’s intraday high of Rs 235.8 represented an 8.14% rise, reflecting strong buying interest during market hours. This surge followed two consecutive days of declines, indicating a reversal in the stock’s short-term trend.
The stock’s performance also outpaced its sector, Other Chemical products, which gained 3.11% on the day. Refex Industries outperformed the sector by 3.99%, underscoring its relative strength amid broader industrial gains.
Market Context and Sector Movement
The broader market environment was positive, with the Sensex climbing 265.52 points to close at 82,157.88, a 0.37% increase after a flat opening. Despite trading below its 50-day moving average, the Sensex remained within 4.87% of its 52-week high of 86,159.02. Mega cap stocks led the market rally, contributing to the overall positive sentiment.
Within the industrial gases and fuels sector, which is closely related to Refex Industries’ industry classification, the index gained 3.11%, providing a supportive backdrop for the stock’s intraday strength.
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Technical Indicators and Moving Averages
Despite the strong intraday rally, Refex Industries Ltd remains trading below its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This suggests that while the stock has shown a short-term bounce, it continues to face resistance at longer-term technical levels.
The recent price action, however, marks a notable shift after two days of declines, indicating a potential short-term trend reversal. The stock’s Mojo Score stands at 34.0 with a Mojo Grade of Sell, upgraded from a previous Strong Sell rating on 11 Aug 2025, reflecting some improvement in its overall assessment.
Performance Comparison Over Various Timeframes
Refex Industries Ltd’s one-day performance of 7.04% contrasts with the Sensex’s 0.39% gain, highlighting its outperformance on the day. Over the past week, the stock has gained 0.54%, slightly ahead of the Sensex’s 0.32% rise.
However, longer-term performance metrics show challenges, with the stock down 11.31% over one month and 34.36% over three months, compared to the Sensex’s respective declines of 3.37% and 2.90%. Year-to-date, Refex Industries Ltd has declined 10.25%, underperforming the Sensex’s 3.58% fall.
Over extended periods, the stock has delivered substantial gains, with a three-year return of 366.05%, five-year return of 1185.95%, and an impressive ten-year return of 12,982.96%, far exceeding the Sensex’s corresponding returns of 38.50%, 75.30%, and 235.82% respectively.
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Mojo Grade and Market Capitalisation Insights
Refex Industries Ltd’s current Mojo Grade of Sell, upgraded from Strong Sell in August 2025, reflects a cautious improvement in its fundamental and market metrics. The company holds a Market Cap Grade of 3, indicating a mid-tier market capitalisation within its sector.
The stock’s recent intraday strength, combined with its upgraded rating, suggests a degree of renewed investor focus, although it remains below key moving averages, signalling that further confirmation of sustained momentum is required.
Summary of Trading Action
In summary, Refex Industries Ltd’s strong intraday performance on 28 Jan 2026, marked by a 7.02% gain and an intraday high of Rs 235.8, stands out against a broadly positive market backdrop. The stock’s outperformance relative to its sector and the Sensex highlights a notable shift in trading dynamics after a brief period of decline.
While technical indicators suggest the stock remains below critical moving averages, the reversal after two days of losses and the upgrade in Mojo Grade provide context for the day’s strong price action. Market participants will likely monitor whether this momentum can be sustained in the coming sessions.
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