Recent Price Movement and Sector Influence
Essar Shipping’s stock has demonstrated a strong short-term rally, gaining 9.87% over the past week compared to a modest 0.31% rise in the Sensex. The stock has also recorded consecutive gains over the last three days, accumulating an 11.14% return in this period. On 29-Jan, the stock opened with a gap up of 4.03% and touched an intraday high of Rs 26.04, reflecting robust buying interest. This performance outpaced the shipping sector, which itself gained 2.82% on the day, indicating that sectoral tailwinds have contributed positively to Essar Shipping’s price action.
Despite this recent momentum, the stock remains below its longer-term moving averages, including the 50-day, 100-day, and 200-day averages, suggesting that the r...
Read full news article













