Why is Suryaamba Spinni falling/rising?
As of 22-Sep, Suryaamba Spinning Mills Ltd's stock price is Rs 140.10, down 4.4%, and has underperformed its sector. The stock is in a bearish trend, trading below all key moving averages, with a significant drop in investor participation.
As of 22-Sep, Suryaamba Spinning Mills Ltd is experiencing a decline in its stock price, currently at Rs 140.10, reflecting a decrease of Rs 6.45 or 4.4%. The stock has underperformed its sector by 3.69% today and has been on a downward trend for the last two days, with a total loss of 4.92% during this period. It opened with a significant gap down of 4.47% and reached an intraday low of Rs 140. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a notable drop in investor participation, with delivery volume falling by 57.71% compared to the 5-day average, which suggests reduced interest in the stock.In the broader market context, the stock's performance over the past week shows a slight gain of 0.21%, while the benchmark Sensex has increased by 0.46%. Over the past month, the stock has slightly underperformed, with a decrease of 0.07% compared to the Sensex's gain of 1.05%. Year-to-date, Suryaamba Spinning Mills has seen a significant decline of 11.30%, while the Sensex has risen by 5.15%. This underperformance against the benchmark, coupled with the recent negative price movements and declining investor interest, reflects a challenging environment for the stock.
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