Shoppers Stop's Stock Hits 52-Week Low Amidst Bearish Market Trend

Nov 29 2024 03:35 PM IST
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Shoppers Stop, a leading retail company in India, has hit a 52-week low on November 29, 2024, with its stock price falling to Rs. 595. The company's stock has been on a downward trend, receiving a 'Strong Sell' rating from MarketsMojo. It is currently trading below its moving averages and has seen a negative 1-year performance. Investors should carefully monitor the company's financial performance and market trends before making any investment decisions.

Shoppers Stop, a leading retail company in India, has recently hit a 52-week low on November 29, 2024. The stock price of the company has been on a downward trend, with MarketsMOJO giving it a 'Strong Sell' rating.

On November 29, the stock price of Shoppers Stop touched a new low of Rs. 595, underperforming the sector by -1.43%. This marks a trend reversal for the stock, as it has fallen after two consecutive days of gains. The stock also opened with a gain of 2.68% today, but quickly dropped to an intraday low of Rs. 595, before reaching an intraday high of Rs. 625.

Shoppers Stop is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend in the market. The company's stock has also seen a negative 1-year performance of -13.44%, in comparison to the Sensex's positive performance of 19.28%.

While the reasons for the stock's decline are not mentioned, investors should keep an eye on the company's financial performance and market trends before making any investment decisions. With the current market conditions, it is advisable to approach Shoppers Stop with caution.
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