UTI Asset Management Faces Significant Stock Decline Amid Broader Market Volatility
UTI Asset Management Company shares fell significantly today, underperforming the broader market and its sector. The stock has seen a downward trend over the past two days, with high volatility noted. Despite recent losses, it remains above several key moving averages, while the broader market also experienced a slight decline.
UTI Asset Management Company has experienced a significant decline today, with shares dropping by 5.32%. This performance marks a notable underperformance compared to the broader market, as the stock lagged behind its sector by 5.24%. The stock has been on a downward trend for the past two days, accumulating a total loss of 6.1% during this period.Opening the day with a gap down of 2.74%, UTI Asset Management reached an intraday low of Rs 1388.35, reflecting a decrease of 5.5%. The stock exhibited high volatility, with an intraday volatility rate of 65.19%, indicating fluctuating trading conditions.
In terms of moving averages, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day moving average.
In the broader market context, the Sensex opened flat but subsequently fell by 224.37 points, closing at 82,555.58, a decline of 0.21%. Despite this, the Sensex is still close to its 52-week high and is trading above its 50-day moving average.
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