Why is Fortis Malar falling/rising?
As of 12-Sep, Fortis Malar Hospitals Ltd's stock price is Rs 65.80, down 1.94%, and has declined 4.49% over the last four days, underperforming the sector. Despite a year-to-date gain of 7.87%, its recent performance indicates a bearish trend, trading below key moving averages.
As of 12-Sep, Fortis Malar Hospitals Ltd is experiencing a decline in its stock price, currently at Rs 65.80, which reflects a decrease of Rs 1.3 or 1.94%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 4.49% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite a significant increase in delivery volume by 171.14% against the 5-day average, the overall performance today has underperformed the sector by 2.21%. The stock has also shown a negative return of 4.10% over the past month, while it has performed positively year-to-date with a gain of 7.87%.In the broader market context, the Sensex has shown a positive return of 1.48% over the past week, contrasting with Fortis Malar's decline of 2.91% during the same period. This disparity highlights the stock's underperformance relative to the benchmark index. While Fortis Malar has outperformed the Sensex over the year with a return of 10.13%, its recent short-term performance suggests a weakening position in the market. The lack of available positive or negative factors further complicates the assessment of the stock's current trajectory, indicating that external influences may not be contributing to its recent decline.
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