SpiceJet Ltd Hits Intraday Low Amidst Significant Price Pressure

Intraday Performance and Price Movement

On the trading day, SpiceJet Ltd’s stock touched a new 52-week low of Rs 14.81, marking a decline of 6.56% from its previous close. The stock underperformed its airline sector peers by 6.1%, reflecting intensified selling pressure. This drop contributed to a day change of -8.39% overall, signalling a continuation of the downtrend that has persisted over the past week.

Notably, SpiceJet has been on a consecutive six-day losing streak, during which it has shed approximately 13.94% in value. The current price is trading below all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — indicating sustained bearish momentum across short, medium, and long-term technical indicators.

Market Context and Broader Indices

The decline in SpiceJet’s share price coincided with a sharp fall in the broader market. The Sensex opened 242.12 points lower and further dropped by 880.15 points, closing at 82,172.39, down 1.35% on the day. Despite this fall, the Sensex remains within 4.85% of its 52-week high of 86,159.02, suggesting that the broader market is still relatively resilient compared to SpiceJet’s steep losses.

Technically, the Sensex is trading below its 50-day moving average, although the 50DMA remains above the 200DMA, signalling a mixed technical outlook for the benchmark index. In contrast, SpiceJet’s share price is well below all major moving averages, underscoring its relative weakness within the airline sector and the market at large.

Comparative Performance Metrics

SpiceJet’s recent performance starkly contrasts with the broader market’s trajectory. Over the past day, the stock declined by 8.45%, compared to the Sensex’s 1.35% fall. Over one week, SpiceJet’s losses widened to 14.55%, while the Sensex dropped 1.53%. The divergence becomes more pronounced over longer periods: one month sees SpiceJet down 36.67% versus the Sensex’s 0.78% gain, and over three months, SpiceJet has fallen 54.83% against the Sensex’s 3.21% decline.

Year-to-date, SpiceJet’s share price has plummeted 51.21%, significantly underperforming the Sensex’s 3.58% decline. Over one year, SpiceJet’s losses amount to 69.24%, while the Sensex has gained 10.37%. The disparity extends over three, five, and ten-year horizons, with SpiceJet’s cumulative declines ranging from 63.45% to 82.68%, in stark contrast to the Sensex’s robust gains of 38.19%, 61.81%, and 255.90% respectively.

Mojo Score and Rating Update

SpiceJet Ltd currently holds a Mojo Score of 3.0, with a Mojo Grade of Strong Sell as of 23 Dec 2024, an update from its previous Sell rating. This downgrade reflects a deteriorated outlook based on MarketsMOJO’s comprehensive assessment framework, which factors in financial metrics, price trends, and market sentiment. The company’s Market Cap Grade stands at 3, indicating moderate market capitalisation relative to its sector peers.

Sector and Industry Positioning

Operating within the airline industry and sector, SpiceJet’s share price performance has lagged significantly behind sector averages. The airline sector itself has faced headwinds amid volatile fuel prices, fluctuating demand, and broader macroeconomic uncertainties. SpiceJet’s underperformance relative to the sector by 6.1% on the day highlights the stock’s heightened sensitivity to these pressures.

The stock’s persistent decline over multiple time frames and its trading below all major moving averages suggest that immediate price pressures remain elevated. This environment has contributed to a subdued market sentiment towards the stock, as reflected in its recent trading patterns.

Summary of Price Pressure and Market Sentiment

The sustained decline in SpiceJet Ltd’s share price, culminating in the intraday low of Rs 14.81, underscores the prevailing price pressure affecting the stock. The combination of broad market weakness, sector-specific challenges, and technical indicators all point to a cautious market stance towards the airline’s equity.

While the Sensex and broader market indices have experienced moderate declines, SpiceJet’s sharper losses highlight its vulnerability within the airline sector. The stock’s performance metrics over multiple time frames reveal a consistent pattern of underperformance relative to the benchmark, reinforcing the current negative sentiment.

Investors and market participants observing SpiceJet’s price action should note the stock’s position well below all key moving averages and its recent downgrade to a Strong Sell rating by MarketsMOJO. These factors collectively illustrate the immediate pressures weighing on the stock’s valuation and trading dynamics.

Technical Indicators and Moving Averages

SpiceJet’s trading below the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages signals a comprehensive bearish trend across all time horizons. This technical positioning often reflects sustained selling interest and limited short-term buying support, contributing to the stock’s inability to recover from recent lows.

The intraday low of Rs 14.81 represents a critical support level, and the stock’s failure to hold above this price point may invite further downside pressure in the near term. The persistent negative momentum is also reflected in the stock’s six consecutive days of decline, cumulatively eroding investor confidence.

Conclusion

In summary, SpiceJet Ltd’s share price performance on 24 Feb 2026 highlights significant intraday weakness amid broader market declines and sector-specific headwinds. The stock’s new 52-week low, coupled with its underperformance relative to the Sensex and airline sector, illustrates the immediate price pressures and subdued market sentiment. Technical indicators reinforce the bearish outlook, with the stock trading below all major moving averages and enduring a multi-day losing streak. These factors collectively define the current trading environment for SpiceJet Ltd, reflecting the challenges faced by the airline’s equity in the prevailing market context.

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