Why is Suryaamba Spinni falling/rising?
As of 17-Sep, Suryaamba Spinning Mills Ltd's stock price is Rs 141.00, up 0.89% today, but has declined 9.96% over the past year. Despite recent gains, the stock underperforms against the Sensex, contributing to cautious investor sentiment.
As of 17-Sep, Suryaamba Spinning Mills Ltd's stock price is currently at Rs 141.00, reflecting an increase of Rs 1.25, or 0.89%. The stock has shown a slight upward movement today, reaching an intraday high of Rs 151.25, which is an 8.23% increase. However, despite this positive movement, the stock's performance over the past year has been negative, with a decline of 9.96%. Additionally, the stock's delivery volume has decreased by 5.43% compared to the 5-day average, indicating falling investor participation. The stock is trading above its 5-day and 20-day moving averages but below its longer-term moving averages, suggesting mixed signals regarding its momentum.In the broader market context, the stock's short-term return of 1.33% over the past week is slightly below the benchmark Sensex, which has increased by 1.56% during the same period. Over the past month, Suryaamba's return of 0.75% also lags behind the Sensex's 2.60% gain. Year-to-date, the stock has underperformed significantly, with a decline of 10.73% compared to the Sensex's positive return of 5.83%. This underperformance relative to the benchmark may contribute to investor caution, despite the recent uptick in price.
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