Neogen Chemicals' Stock Drops -5.33% Amid Underperformance in Chemicals Sector

Neogen Chemicals, a midcap company in the chemicals industry, has seen a decline of -5.33% in its stock price on October 4th, 2024. This drop in stock value has been attributed to the company's underperformance in the sector, with a -3.77% difference. The stock has also been on a consecutive downward trend for the past two days, resulting in a total loss of -8.63% during this period.

On October 4th, Neogen Chemicals' stock hit an intraday low of Rs 2035.65, representing a -5.84% decrease from its previous closing price. However, the stock's moving averages, including the 20-day, 50-day, 100-day, and 200-day averages, are all higher than its 5-day average.

In comparison to the overall market performance, Neogen Chemicals' stock has underperformed, with a -5.47% decrease compared to the Sensex's -0.97% decrease on the same day. However, over the past month, the company's stock has shown a positive growth of 37.49%, while the Sensex has only seen a -0.79% change.

Based on these numbers, MarketsMOJO has given a 'Hold' call for Neogen Chemicals' stock. As a midcap company in the chemicals industry, Neogen Chemicals continues to show potential for growth and investors should keep an eye on its performance in the coming days.