Zenith Steel Pipes Hits Lower Circuit Limit with Day's Low at Rs 8.89

Zenith Steel Pipes & Industries Ltd, a microcap player in the Iron & Steel Products sector, experienced significant trading activity today as its stock hit the lower circuit limit. The last traded price (LTP) was recorded at Rs 9.00, reflecting a decline of Rs 0.36 or 3.85% from the previous session. The stock's performance was marked by a low price of Rs 8.89, which contributed to its circuit limit status.
Throughout the trading day, Zenith Steel reached an intraday high of Rs 9.36, but ultimately closed lower. The total traded volume amounted to approximately 2.83 lakh shares, resulting in a turnover of Rs 0.256 crore. Notably, the stock has shown a trend reversal, gaining after three consecutive days of decline, although it remains below its 5-day moving average.

Investor participation appears to be waning, with a delivery volume of 62,670 shares on October 28, reflecting a slight decrease of 0.2% compared to the 5-day average. Despite these fluctuations, the stock has outperformed its sector by 2.02% today. Overall, Zenith Steel's performance indicates a challenging trading environment, with liquidity sufficient for small trade sizes.