Shemaroo Entertainment Experiences Strong Buying Momentum with 5% Intraday Gain

Shemaroo Entertainment Ltd is currently witnessing significant buying activity, with the stock gaining 5.00% today, outperforming the Sensex, which rose by only 0.36%. Over the past week, Shemaroo has shown a robust performance, increasing by 12.51%, compared to the Sensex's 1.77%. Notably, the stock has been on a consecutive gain streak for the last four days, accumulating a total return of 13.28% during this period.
Today, Shemaroo opened with a gap up of 4.24% and reached an intraday high of Rs 125, reflecting a 5% increase. The stock has traded within a narrow range of Rs 0.9, indicating stable buying pressure. In terms of moving averages, Shemaroo's current price is above the 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.

Despite a challenging year-to-date performance of -20.53%, relative to the Sensex's 6.21% gain, the recent buying momentum may be attributed to positive market sentiment or specific developments within the media and entertainment sector.