Manaksia Steels Faces Significant Volatility Amidst Ongoing Market Challenges
Manaksia Steels, a microcap in the Steel/Sponge Iron/Pig Iron sector, has hit a new 52-week low of Rs. 47, reflecting significant volatility. The stock has underperformed its sector and has seen an 11.32% loss over the past five days, indicating ongoing challenges in the market.
Manaksia Steels, a microcap player in the Steel/Sponge Iron/Pig Iron industry, has experienced significant volatility today, reaching a new 52-week low of Rs. 47. This marks a notable decline, as the stock has underperformed its sector by 2.9%. Over the past five days, Manaksia Steels has seen a consecutive drop, accumulating a total loss of 11.32%.Today's trading session opened with a gap down, reflecting a loss of 4.12% at the start. The stock has remained stagnant, trading consistently at Rs. 47 throughout the day, with an intraday low matching this price point.
In terms of moving averages, Manaksia Steels is currently positioned below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Over the past year, the stock has declined by 34.93%, contrasting sharply with the Sensex, which has gained 1.98% during the same period. This performance highlights the challenges faced by Manaksia Steels in the current market landscape.
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