Zenith Steel Pipes Hits Lower Circuit Limit, Trading at Rs 9.36 Amid Decline
Zenith Steel Pipes & Industries Ltd faced notable trading activity as its stock hit the lower circuit limit, closing at Rs 9.4. The stock underperformed in the sector, with a significant decline in delivery volume. Despite trading above various moving averages, investor participation has decreased amid a challenging market environment.
Zenith Steel Pipes & Industries Ltd, a microcap player in the Iron & Steel Products sector, experienced significant trading activity today as the stock hit its lower circuit limit. The last traded price (LTP) was recorded at Rs 9.4, reflecting a decline of Rs 0.46 or 4.67% from the previous close. The stock's performance was notably below sector expectations, underperforming by 5.61%.During the trading session, Zenith Steel reached an intraday high of Rs 9.89 and a low of Rs 9.36, indicating a price band of 5%. The total traded volume stood at approximately 1.55 lakh shares, with a turnover of Rs 0.15 crore. The stock has been on a downward trend, having fallen consecutively for two days, resulting in a total decline of 5.26% over this period.
Despite trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, investor participation has waned, with delivery volume dropping by 55.8% compared to the 5-day average. Overall, Zenith Steel's performance today reflects a challenging market environment, with liquidity remaining adequate for small trade sizes.
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