Why is Kanungo Financi. falling/rising?
As of 04-Nov, Kanungo Financiers Ltd's stock price is declining at 7.71, down 4.93%, and has underperformed significantly compared to the Sensex, which has gained 2.77% over the past month. Despite a spike in delivery volume, the stock continues to trade below key moving averages, indicating a bearish trend.
As of 04-Nov, Kanungo Financiers Ltd is experiencing a decline in its stock price, currently at 7.71, which represents a decrease of 0.4 or 4.93%. The stock has been underperforming, having lost 9.29% over the past month and 5.98% over the last week. It has also been trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite a notable increase in delivery volume by 257.88% on November 3rd, which suggests rising investor participation, the stock has consecutively fallen for the last two days, contributing to its recent negative performance.In the broader market context, Kanungo Financiers Ltd's performance has significantly lagged behind the benchmark Sensex, which has gained 2.77% over the past month while the stock has declined by 9.29%. This stark contrast highlights the stock's struggles relative to the overall market, as it has also underperformed the Sensex over various time frames, including a year-to-date decline of 3.26% compared to the Sensex's 6.81% gain. The lack of available positive factors further compounds the stock's challenges, reinforcing the downward pressure on its price amidst a generally more favorable market environment.
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