Recent Price Movement and Market Context
On 23 January, Permanent Magnets Ltd closed at ₹783.55, down ₹28.05 or 3.46% from the previous session. This decline continues a three-day losing streak, during which the stock has fallen by 7.82%. Intraday trading saw the share price fluctuate between a high of ₹835, marking a 2.88% gain, and a low of ₹780, a 3.89% drop, with heavier trading volume concentrated near the lower price levels. The stock’s performance today notably underperformed the engineering sector, which itself declined by 2.1%, and lagged behind the broader market benchmark, the Sensex, which fell by 2.43% over the past week.
Further technical indicators reveal that Permanent Magnets Ltd is trading below all key moving averages, including the 5-day, 20-day, 50...
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