Why is Fortis Malar falling/rising?
As of 28-Jul, Fortis Malar Hospitals Ltd's stock price is at 68.14, down 0.96% and has declined 4.49% over the past three days. Despite trading above its 200-day moving average, it has underperformed compared to the Sensex, which has also declined, indicating broader market challenges.
As of 28-Jul, Fortis Malar Hospitals Ltd's stock price is currently at 68.14, reflecting a decrease of 0.66, or 0.96%. The stock has been experiencing a consecutive decline over the past three days, with a total drop of 4.49% during this period. Although the stock is trading above its 200-day moving average, it is below the 5-day, 20-day, 50-day, and 100-day moving averages. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 122.43% against the 5-day average. The stock has shown mixed performance in the longer term, with a year-to-date increase of 11.70% and a 1-year return of 7.75%, despite a 4.63% decline over the past week.In the broader market context, the Sensex has also experienced a decline of 1.59% over the past week and 3.77% over the past month, indicating that the market is facing some headwinds. However, Fortis Malar's short-term performance has been worse than the benchmark, as it has fallen more significantly than the Sensex in the same timeframe. This suggests that while the overall market is down, Fortis Malar is underperforming relative to it, which may be contributing to the stock's recent price decline.
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