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

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%.