SAIL Experiences Surge in Trading Activity Amid Sector Underperformance
Steel Authority of India Ltd. (SAIL) experienced notable trading activity, with over 37 million shares traded and a market capitalization of Rs 50,578.28 crore. The stock opened at Rs 117.00, reaching a high of Rs 122.99, while showing increased investor participation and trading above key moving averages.
Steel Authority of India Ltd. (SAIL), a prominent player in the Steel/Sponge Iron/Pig Iron industry, has shown significant trading activity today. The stock recorded a total traded volume of 37,164,569 shares, with a total traded value of approximately Rs 44,902.23 lakhs. Opening at Rs 117.00, SAIL reached a day high of Rs 122.99 before settling at a last traded price of Rs 122.81. Despite this activity, SAIL underperformed its sector, with a 1-day return of -0.19%, compared to the sector's return of 0.70%. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend in the short to medium term. Notably, investor participation has surged, with a delivery volume of 1.23 crore shares on May 14, reflecting a 122.6% increase against the 5-day average delivery volume.
With a market capitalization of Rs 50,578.28 crore, SAIL remains a liquid stock, suitable for trades around Rs 2.74 crore based on 2% of the 5-day average traded value. Overall, SAIL's performance today highlights its active trading status within the market.
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