Why is Garg Furnace falling/rising?
As of 31-Oct, Garg Furnace Ltd's stock price is Rs 156.80, down 2.24% and has fallen 7.76% over the last three days. The stock is underperforming compared to the Sensex, trading below significant moving averages, indicating a bearish trend and reduced investor participation.
As of 31-Oct, Garg Furnace Ltd's stock price is currently at Rs 156.80, reflecting a decrease of Rs 3.6 or 2.24%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 7.76% during this period. It opened the day with a loss of 2.62% and reached an intraday low of Rs 156, which is just 1.02% above its 52-week low of Rs 155.2. Additionally, the stock is trading below all significant moving averages, indicating a bearish trend. The delivery volume has also decreased significantly, falling by 32.18% against the 5-day average, suggesting a decline in investor participation.Broader Market Context: In comparison to the benchmark Sensex, which has shown a slight decline of 0.32% over the past week, Garg Furnace's stock has experienced a much steeper drop of 7.98%. Over the past month, while the Sensex has gained 3.65%, Garg Furnace's stock has decreased by 5.49%. This stark contrast highlights the stock's poor performance relative to the broader market, contributing to its negative sentiment among investors. The overall market conditions appear to be more favorable than those for Garg Furnace, further exacerbating the stock's decline.
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