Why is Acknit Indus. falling/rising?
As of 18-Nov, Acknit Industries Ltd's stock price is Rs 269.20, down 6.98%, and has declined 11.45% over the past week, underperforming the Sensex, which has risen by 0.96%. The stock is trading below all major moving averages and has seen a significant drop in investor participation.
As of 18-Nov, Acknit Industries Ltd is experiencing a decline in its stock price, currently at Rs 269.20, which represents a decrease of Rs 20.2 or 6.98%. The stock has underperformed its sector by 7.23% today and has been on a consecutive downward trend for the last two days, with a total decline of 11.45% over the past week. Additionally, the stock has not traded on 2 out of the last 20 days, indicating erratic trading patterns. It is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, and there has been a significant drop in investor participation, with delivery volume falling by 34.91% compared to the 5-day average. Unfortunately, there is no information available regarding positive or negative factors impacting the stock.Broader market context shows that while Acknit Industries Ltd has declined by 11.45% over the past week, the benchmark Sensex has increased by 0.96% during the same period. This stark contrast highlights the stock's underperformance relative to the broader market. Over the past month, Acknit Industries has also seen a decline of 11.58%, while the Sensex has risen by 0.86%. Year-to-date, the stock is down 11.74%, contrasting sharply with the Sensex's gain of 8.36%, further emphasizing the challenges faced by Acknit Industries in the current market environment.
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