Relaxo Footwears Faces Significant Volatility Amid Broader Consumer Durables Sector Decline

Relaxo Footwears Ltd, a midcap player in the consumer durables sector, has experienced significant volatility today, opening with a loss of 10.63%. The stock reached a new 52-week low of Rs. 375.35, reflecting a broader trend of underperformance, as it lagged behind its sector by 1.39%. Over the past two days, Relaxo has seen a cumulative decline of 7.8%, contributing to a one-month performance drop of 10.35%, compared to a 2.33% decrease in the Sensex.
Technical indicators suggest a bearish outlook, with the stock trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The MACD and KST indicators are also in bearish territory on both weekly and monthly charts. Additionally, the stock's beta of 1.20 indicates a higher volatility compared to the market, suggesting that Relaxo Footwears tends to experience larger price swings. The consumer durables sector overall has declined by 4.52%, further highlighting the challenging market conditions faced by Relaxo Footwears today.