Tata Steel Stock Declines by -3.96% Despite Higher Moving Averages

Tata Steel, one of the largest steel companies in India, has seen a decline in its stock price by -3.96% on October 8th, 2024. This has been reflected in the stock call given by MarketsMOJO, which has rated the stock as 'Hold'.

The stock has underperformed the sector by -2.05% and has been on a consecutive fall for the last 5 days, with a decline of -6.32% during this period. On the same day, the stock touched an intraday low of Rs 156.8, which is a decrease of -4.56%.

However, despite these recent declines, the stock's moving averages are still higher than the 20 day, 50 day, and 200 day moving averages. It is worth noting that the stock is currently lower than the 5 day and 100 day moving averages.

In comparison to the Sensex performance, Tata Steel's 1 day performance is -4.08%, while the Sensex has only seen a slight increase of 0.05%. Similarly, in the past month, Tata Steel has outperformed the Sensex with a 4.20% increase, while the Sensex has seen a decrease of -0.12%.

Overall, Tata Steel's recent stock performance may be a cause for concern for investors, but it is important to note that the company's moving averages are still higher than the long-term averages. Investors should continue to monitor the stock's performance and make informed decisions based on their own research and analysis.