Recent Price Movement and Market Context
Phoenix Township’s share price performance on 04-Dec was characterised by significant volatility. The stock opened with a positive gap, rising 4.13% to an intraday high of Rs. 143.80, suggesting initial buying interest. However, this momentum was short-lived as the price retreated sharply to hit the day’s low of Rs. 131.20, representing a 5.0% decline from the previous close. The weighted average price indicates that a larger volume of shares traded closer to the lower price levels, signalling selling pressure dominating the session.
This intraday reversal and eventual close at a new 52-week low highlight the challenges the stock faces in sustaining gains, despite early optimism during the trading day.
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