Recent Price Movement and Sector Context
On 08 December, NMDC Steel’s share price closed at ₹39.77, down ₹1.39 or 3.38% from the previous session. This decline is part of a broader downtrend, with the stock having lost 5.26% over the past week and underperforming the steel sector, which itself fell by 2.23% on the day. The stock has been on a consecutive five-day losing streak, cumulatively dropping 5.26% during this period. Intraday, the share touched a low of ₹39.52, marking a 3.98% decline from the previous close, with heavier trading volume concentrated near these lower price levels. This suggests selling pressure dominating investor sentiment.
Despite the stock trading above its 200-day moving average, it remains below its shorter-term averages including the 5-day...
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