Why is CreditAcc. Gram. falling/rising?
As of 26-Aug, CreditAccess Grameen Ltd's stock price is Rs 1,354.85, down 2.52%, with a recent decline in investor participation and performance lagging behind its sector. Despite strong long-term fundamentals, the stock faces short-term challenges amid broader market declines.
As of 26-Aug, CreditAccess Grameen Ltd's stock price is currently at Rs 1,354.85, reflecting a decrease of Rs 35.05 or 2.52%. The stock has been underperforming, having fallen for the last two days, resulting in a total decline of 3.12% during this period. It is also 3.86% away from its 52-week high of Rs 1,407.1. The stock's performance today has lagged behind its sector by 0.57%, and it reached an intraday low of Rs 1,353.45. Although the stock is trading above its 20, 50, 100, and 200-day moving averages, it is below its 5-day moving average. Additionally, there has been a notable decline in investor participation, with delivery volume dropping by 34.53% compared to the 5-day average.In the broader market context, the finance/NBFC sector has experienced a decline of 2.02%, contributing to the stock's downward movement. While the stock has shown strong long-term fundamentals with a 23.98% CAGR growth in net sales and has outperformed the BSE500 index over the past year with an 11.79% return, the recent price drop indicates a short-term challenge. The high institutional holdings at 24.89% suggest confidence in the company's long-term prospects, but the recent consecutive falls and reduced trading volume may reflect short-term investor caution amidst broader market pressures.
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