Summit Securities Faces Significant Stock Decline Amid Broader Market Weakness

Jan 13 2025 02:35 PM IST
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Summit Securities, a small-cap finance and NBFC company, has encountered significant challenges, with its stock price declining notably today. Over the past month, the stock has dropped substantially, underperforming both its sector and the broader market, while currently trading above its 200-day moving average.
Summit Securities, a small-cap entity in the finance and non-banking financial company (NBFC) sector, has faced notable challenges today, with its stock price declining by 7.32%. This drop is part of a broader downward trend, as the stock has underperformed its sector by 4.42% and has seen a total decline of 16.96% over the past four days.

On January 13, 2025, Summit Securities opened with a gap down of 2.43% and reached an intraday low of Rs 2480, reflecting a decrease of 6.94%. Currently, the stock is positioned above its 200-day moving average but falls short of the 5-day, 20-day, 50-day, and 100-day moving averages.

In the context of market performance, Summit Securities' one-day decline of 7.83% contrasts sharply with the Sensex, which only fell by 1.29%. Over the past month, the stock has plummeted by 27.84%, while the Sensex has decreased by 7.01%. Additionally, the finance/NBFC sector has experienced an overall decline of 2.44%.
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