Why is Fortis Malar falling/rising?
As of 22-Sep, Fortis Malar Hospitals Ltd's stock price is declining at 64.67, down 0.48%, and has lost 2.58% over the last three days. It is trading below all key moving averages, indicating bearish momentum, and has underperformed compared to the Sensex in recent weeks.
As of 22-Sep, Fortis Malar Hospitals Ltd is experiencing a decline in its stock price, currently at 64.67, which reflects a decrease of 0.31 or 0.48%. The stock has been on a downward trend, losing value for the last three days and recording a total decline of 2.58% 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 momentum. While there has been a rise in investor participation, with a 16.06% increase in delivery volume compared to the 5-day average, the overall performance over the past week and month shows a decline of 0.81% and 5.26%, respectively. Unfortunately, there is no information available regarding positive or negative factors that could further explain the stock's recent movement.Broader market context indicates that while Fortis Malar has shown a year-to-date return of 6.02%, it has underperformed compared to the Sensex, which has gained 5.15% in the same timeframe. In the short term, the stock's performance has been weaker than the benchmark, as evidenced by its negative returns over the past week and month, contrasting with the Sensex's positive returns of 0.46% and 1.05%, respectively. This disparity suggests that broader market conditions may not be favoring Fortis Malar at this time, contributing to its recent price decline.
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