Why is Kanungo Financi. falling/rising?
As of 07-Nov, Kanungo Financiers Ltd's stock price is Rs 6.99, down 4.64%, and has fallen for four consecutive days, resulting in a -17.76% return over the past week. The stock is underperforming compared to the Sensex, which has gained 6.50% year-to-date, indicating a bearish trend and lack of investor confidence.
As of 07-Nov, Kanungo Financiers Ltd is experiencing a decline in its stock price, currently at Rs 6.99, reflecting a decrease of Rs 0.34 or 4.64%. The stock has been underperforming significantly, having fallen for the last four consecutive days, resulting in a total return of -17.76% over the past week. Additionally, it is trading below all key moving averages, indicating a bearish trend. The stock is also close to its 52-week low, just 2.15% away from Rs 6.84. Furthermore, there has been a notable drop in investor participation, with delivery volume plummeting by 91.5% compared to the 5-day average, which suggests a lack of confidence among investors.In the broader market context, the Sensex has only declined by 0.86% over the past week, contrasting sharply with Kanungo Financiers' significant drop. This underperformance is further highlighted by the stock's year-to-date return of -12.30%, while the Sensex has gained 6.50% during the same period. The stark difference in performance indicates that the stock is not only struggling in the short term but also lagging behind the overall market trends, which may be contributing to the negative sentiment surrounding it.
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