Varvee Global Ltd Hits Lower Circuit Limit with Low Price of Rs 119.38

Varvee Global Ltd, a microcap player in the Garments & Apparels industry, experienced significant trading activity today as the stock hit its lower circuit limit. The last traded price was Rs 120.65, reflecting a decline of 5.02 points or 3.99% from the previous close. The stock's performance was marked by a low price of Rs 119.38, which contributed to its circuit limit status.
Despite the downturn, Varvee Global had shown some resilience in recent days, having gained 10.24% over the last two days prior to today’s trading. The stock opened with a notable gap up of 5% at Rs 127.53, reaching an intraday high of Rs 127.53 before declining. The total traded volume was approximately 0.86506 lakh shares, resulting in a turnover of Rs 1.04 crore.

In terms of moving averages, the stock is currently above its 5-day moving average but below the longer-term averages of 20, 50, 100, and 200 days. However, investor participation appears to be waning, with delivery volume dropping by 68.4% compared to the 5-day average. Overall, Varvee Global's performance today reflects a challenging trading environment, underscored by its position at the lower circuit limit.