Neogen Chemicals Faces Market Challenges Amidst Broader Sector Declines

Neogen Chemicals has faced notable challenges in the market, experiencing a decline of 5.24% on January 13, 2025, marking its second consecutive day of losses with a total drop of 6.51% over this period. The stock's performance has underperformed its sector by 3.04%, indicating a tough competitive landscape.
During intraday trading, Neogen Chemicals hit a low of Rs 2051.25, reflecting a decrease of 4.73%. An examination of moving averages reveals that the stock is currently positioned above its 100-day and 200-day moving averages, yet it remains below its 5-day, 20-day, and 50-day moving averages, suggesting mixed momentum.

In the broader market context, Neogen Chemicals' one-day performance of -4.72% stands in stark contrast to the Sensex, which only declined by 0.69%. Over the past month, the stock has recorded a performance of -6.69%, slightly worse than the Sensex's decline of 6.44%. This trend highlights a challenging environment for investors in the chemicals sector, as Neogen Chemicals navigates through these turbulent market conditions.