Why is Setco Automotive falling/rising?
As of 17-Nov, Setco Automotive Ltd's stock price is declining at 16.80, down 4.82%, and has underperformed its sector by 5.25%. The stock is trading below all major moving averages and has seen significant declines over the past week and month, indicating a bearish trend.
As of 17-Nov, Setco Automotive Ltd is experiencing a decline in its stock price, currently at 16.80, which reflects a decrease of 0.85 or 4.82%. The stock has underperformed its sector by 5.25% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 5.99% during this period. Additionally, Setco Automotive is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Over the past week, the stock has dropped by 7.03%, and it has also seen a significant decline of 12.00% over the past month, contrasting sharply with its year-to-date performance of -10.02%. Notably, while the stock has shown a strong annual return of 67.50%, recent performance suggests a troubling shift.In the broader market context, Setco Automotive's recent struggles are highlighted by the Sensex, which has gained 1.69% over the past week and 1.19% over the past month, indicating that the stock is lagging behind the benchmark. This underperformance is further emphasized by the rising investor participation, as evidenced by a 17.83% increase in delivery volume on November 14, suggesting some interest despite the stock's decline. However, the liquidity remains adequate for trading, as it is based on 2% of the 5-day average traded value. Overall, the combination of negative price movements, underperformance relative to the benchmark, and the lack of positive factors in the current market environment contributes to the stock's downward trajectory.
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