Sumitomo Chemical India's Stock Sees Decline of -3.21% on October 22, 2024

Sumitomo Chemical India, a leading player in the chemicals industry, saw a decline of -3.21% in its stock on October 22, 2024. The stock has been on a downward trend for the past four days, with a total loss of -10.86% during this period. However, it opened with a gain of 2.36% today, touching an intraday high of Rs 538 before closing at Rs 508.65, a decrease of -3.22%.

The stock's performance today was lower than the sector average by -1.03%. The company's stock is currently trading higher than its 200-day moving average, but lower than its 5-day, 20-day, 50-day, and 100-day moving averages. This indicates a mixed trend for the stock in the short term.

In the chemicals sector, Sumitomo Chemical India's stock has fallen by -2.28%. However, the company's one-day performance of -3.08% is still better than the Sensex's performance of -0.58%. Over the past month, the stock has seen a decline of -9.10%, while the Sensex has seen a decline of -4.57%.

Based on these factors, MarketsMOJO has given a 'Hold' call for Sumitomo Chemical India's stock. Investors are advised to keep a close eye on the company's performance in the coming days.