Manaksia Steels Faces Significant Stock Volatility Amid Broader Market Challenges
Manaksia Steels, a microcap in the Steel industry, is experiencing notable stock volatility, trading near its 52-week low. The stock has declined over the past three days and is underperforming its sector. Additionally, it has faced significant challenges over the past year compared to broader market trends.
Manaksia Steels, a microcap player in the Steel/Sponge Iron/Pig Iron industry, has experienced significant volatility in its stock performance today. The stock is currently trading close to its 52-week low, just 0.3% away from Rs 49.31, which it reached on February 25, 2025. Over the past three days, Manaksia Steels has seen a decline of 6.68%, underperforming its sector by 1.7%.Today's trading session saw the stock hit an intraday high of Rs 52.5, reflecting a gain of 3.61%, while it also dipped to an intraday low of Rs 49.46, marking a decrease of 2.39%. Notably, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.
In terms of longer-term performance, Manaksia Steels has faced challenges, with a one-year return of -35.21%, contrasting sharply with the Sensex's positive performance of 2.15%. These metrics highlight the current struggles of Manaksia Steels within the broader market context.
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