Why is Cords Cable falling/rising?
As of 07-Nov, Cords Cable Industries Ltd's stock price is Rs 179.40, down 1.91%, and has declined 7.36% over the past week, underperforming the Sensex. The stock's bearish trend is indicated by lower moving averages and a significant drop in trading volume.
As of 07-Nov, Cords Cable Industries Ltd is experiencing a decline in its stock price, currently at Rs 179.40, which reflects a decrease of Rs 3.5 or 1.91%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 7.36% over the past week. Today's trading saw the stock reach an intraday low of Rs 175.65, and the volume of shares traded has significantly decreased, with a 65.77% drop in delivery volume compared to the five-day average. Additionally, while the stock's moving averages are higher than the 50-day average, they remain lower than the 5-day, 20-day, 100-day, and 200-day averages, indicating a bearish trend. There is no information available regarding any positive or negative factors that could influence the stock's recent movement.In the broader market context, Cords Cable's short-term performance has been notably weaker than the benchmark, with a 7.36% decline over the past week compared to a 0.86% drop in the Sensex. Over the past month, the stock has also underperformed, with a decline of 1.64% while the Sensex has gained 1.57%. Year-to-date, Cords Cable has seen a significant drop of 14.37%, contrasting sharply with the Sensex's increase of 6.50%. This persistent underperformance in both short-term and long-term metrics suggests that investor sentiment is currently negative towards Cords Cable, contributing to its declining stock price.
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