Persistent Downward Momentum
HP Adhesives closed at ₹41.31 on 18 December, down by ₹0.72 or 1.71% from the previous session. This decline extends a losing streak spanning four consecutive trading days, during which the stock has shed approximately 4.33% of its value. The current price is alarmingly close to its 52-week low of ₹41.23, with the stock just 0.19% above this critical support level. Such proximity to the annual low signals persistent selling pressure and a lack of bullish momentum among investors.
Comparing the stock’s recent performance to the broader market reveals a stark contrast. Over the past week, HP Adhesives has declined by 3.44%, markedly underperforming the Sensex, which fell only 0.40% in the same period. The underperformance is even more pronoun...
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