Astra Microwave shares continue their downward trend and underperform the sector by -4.94%

Astra Microwave Products, a mid-sized defense industry company, is witnessing a downward trend in stock performance. On October 21, 2024, the company’s stock lost -5.67%, underperforming the sector by -4.94%. This is the sixth consecutive day of losses for the company, with a total decline of -11.73% over the period.

The stock’s performance today was also reflected in its intraday low of Rs 757.9, down -5.73%. Astra Microwave is currently trading below its 5-day, 20-day, 50-day, 100-day and 200-day moving averages, indicating a bearish trend.

Compared to the overall market development, Astra Microwave’s shares performed worse. On the same day, the Sensex recorded a decline of just -0.08% while Astra Microwave stock fell -4.18%. In the last month, the company’s stock witnessed a decline of -14.59% while the Sensex stock fell by just -4.00%.

Despite the recent decline in stock performance, MarketsMOJO has issued a Hold rating on Astra Microwave stock. As a midcap company in the defense industry, Astra Microwave stock performance can be affected by various factors such as government policies, global tensions and technological advancements. Investors are advised to keep a close eye on the company’s financial reports and market trends before making investment decisions.