Why is Scan Steels falling/rising?
As of 17-Oct, Scan Steels Ltd's stock price is Rs 41.65, down 7.83%, with a significant decline in investor participation and a year-to-date drop of 10.91%. Despite a strong five-year performance, the stock is currently facing short-term challenges and high volatility.
As of 17-Oct, Scan Steels Ltd is experiencing a decline in its stock price, currently at Rs 41.65, which reflects a decrease of 3.54 or 7.83%. The stock has underperformed its sector by 6.85% today and has been on a downward trend for the last two days, accumulating a total drop of 9.12%. Additionally, the stock has touched an intraday low of Rs 41.3 and has shown high volatility with an intraday fluctuation of 5.36%. The delivery volume has significantly decreased by 77.7% compared to the 5-day average, indicating falling investor participation. Over the past year, the stock has declined by 35.28%, contrasting with a 3.64% increase in the benchmark index, Sensex.In the broader market context, the stock's performance over the past week shows a decline of 9.24%, while the Sensex has risen by 1.76%. Despite a positive return of 20.90% over the past month, the year-to-date performance remains negative at -10.91%, compared to a 7.44% gain in the Sensex. The long-term view shows that while Scan Steels has performed well over the last five years with a 112.50% increase, it is currently facing significant challenges in the short term, reflected in its recent price movements and declining investor interest.
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