Market Performance and Sector Influence
Redington’s share price fell by Rs 10.10 on 05-Dec, touching an intraday low of Rs 266.55, a decline of 4.33%. This underperformance was in line with the broader IT - Hardware sector, which itself declined by 2.68% on the same day. The stock’s daily performance lagged the sector by 0.77%, indicating that sector-wide weakness has contributed to the downward pressure on Redington’s shares.
Moreover, the weighted average price for the day showed that a greater volume of shares traded near the lower price levels, signalling selling pressure. The stock’s moving averages reveal a mixed technical picture: while it remains above its 200-day moving average, it is trading below its 5-day, 20-day, 50-day, and 100-day moving averages, sugges...
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