Why is Bihar Sponge falling/rising?
As of 12-Sep, Bihar Sponge Iron Ltd's stock price is declining at 13.40, down 1.98%, and has underperformed its sector. The stock is trading below all key moving averages, indicating bearish sentiment and weak investor interest.
As of 12-Sep, Bihar Sponge Iron Ltd is experiencing a decline in its stock price, currently at 13.40, which reflects a decrease of 0.27 or 1.98%. The stock has underperformed its sector by 1.95% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 5.43% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. The delivery volume has also decreased significantly, with a 22.41% drop compared to the 5-day average, suggesting a lack of investor interest. Unfortunately, there is no information available regarding positive or negative factors that could influence the stock's recent movement.In the broader market context, Bihar Sponge Iron's short-term performance has been notably poor compared to the benchmark Sensex, which has gained 1.48% over the past week while Bihar Sponge has lost 0.74%. Over the past month, the stock has declined by 8.47%, contrasting sharply with the Sensex's increase of 2.08%. Year-to-date, the stock has fallen by 19.52%, while the Sensex has risen by 4.82%. This significant underperformance relative to the benchmark indicates that investor sentiment towards Bihar Sponge Iron is weak, contributing to its declining stock price.
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