Why is Newmalayalam St. falling/rising?
As of 28-Jul, Newmalayalam Steel Ltd's stock price is at 27.50, down 0.36%, with significant underperformance reflected in a year-to-date decline of 64.38%. Despite a recent increase in investor participation, the stock remains below key moving averages, indicating a bearish trend compared to the more stable Sensex.
As of 28-Jul, Newmalayalam Steel Ltd's stock price is currently at 27.50, reflecting a decrease of 0.1, or 0.36%. The stock has underperformed in the short term, with a 1-week return of -5.50% and a 1-month return of -4.01%. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. However, there has been a rise in investor participation, with a delivery volume increase of 20% on July 25 compared to the 5-day average, suggesting some interest despite the overall decline. There is no information available regarding positive or negative factors that could further explain the stock's recent movement.In the broader market context, Newmalayalam Steel Ltd has significantly underperformed compared to the Sensex, which has shown a 1-week decline of only -1.63% and a 1-month decline of -3.73%. Year-to-date, the stock has plummeted by 64.38%, while the Sensex has gained 4.38%, highlighting a stark contrast in performance. This disparity indicates that while the market has been relatively stable, Newmalayalam Steel Ltd is facing substantial challenges that are contributing to its price decline.
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