Surya Roshni Faces Trend Reversal Amid Broader Market Decline in Steel Sector

Apr 04 2025 02:30 PM IST
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Surya Roshni, a midcap company in the Steel/Sponge Iron/Pig Iron sector, saw a significant decline on April 4, 2025, reversing a recent upward trend. The stock fluctuated throughout the day, while the broader sector and market indices also faced challenges, indicating unfavorable market conditions.
Surya Roshni, a midcap player in the Steel/Sponge Iron/Pig Iron industry, experienced a notable decline of 5.13% on April 4, 2025. This drop comes after a brief period of gains, marking a trend reversal as the stock fell following three consecutive days of increases. The stock opened with a gain of 2.12% but quickly shifted, reaching an intraday high of Rs 272.9 before hitting a low of Rs 250.4.

In terms of moving averages, Surya Roshni's stock is currently above the 20-day and 50-day moving averages but below the 5-day, 100-day, and 200-day averages. The broader Steel/Sponge Iron/Pig Iron sector also faced challenges, declining by 5.31% on the same day.

Market conditions were unfavorable, with the Sensex falling sharply by 826.19 points to close at 75,333.90, reflecting a bearish trend as it traded below its 50-day moving average. Over the past month, Surya Roshni has shown a 7.33% increase, contrasting with the Sensex's 3.23% rise, while its year-to-date performance remains down by 15.44%.
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