On 29-10-2024, the share price of Garuda Construction And Engineer experienced a notable positive movement, registering an increase of 1.51%. This rise is significant considering the overall market trends, as both the Nifty and Sensex benchmark indices faced declines.
| Table of Contents |
|---|
| Stock Trading Details |
| Comparison with Benchmark Indices |
| Current Trading Status |
| Stock SMA Analysis |
| Holding Percentages |
| Conclusion |
Stock Trading Details
On the trading day, Garuda Construction And Engineer’s stock opened at ₹87.56. The intraday movement was characterized by a high of ₹91.00 and a low of ₹87.42. The stock ultimately closed at ₹88.74, reflecting a strong end to the trading session, particularly in the context of the current market environment.
Comparison with Benchmark Indices
The stock’s performance stands out against the backdrop of market challenges, with prominent benchmark indices such as Nifty and Sensex closing lower at -0.35% and -0.36% respectively. Garuda’s gain illustrates resilience in a market where many stocks struggled.
Current Trading Status
As of the latest market update, Garuda Construction And Engineer is trading at ₹88.74, representing a 1.51% increase from its previous closing price. This positive trend is noteworthy for investors, especially given the broader market decline.
Stock SMA Analysis
An analysis of the stock’s performance using Simple Moving Averages (SMA) indicates that Garuda is trading above the 20, 50, 100, and 300 days SMAs. However, it is currently trading below the 5 and 10 days SMAs, indicating potential resistance at these short-term levels. The stock appears to have strong support from the longer-term SMAs, suggesting that it may have a stable foundation for future growth.
| Resistance and Support Levels |
|---|
| Resistance: 5 and 10 days SMA |
| Support: 20, 50, 100, and 300 days SMA |
Holding Percentages
In terms of ownership structure, recent filings indicate that Garuda Construction And Engineer has various ownership stakes including a certain percentage of promoter holding, mutual fund holding, and Foreign Institutional Investor (FII) holding, which has shown changes over the most recent quarter. Keeping abreast of these percentages can provide valuable insights for prospective investors looking to gauge confidence in the company.
Conclusion
The positive performance of Garuda Construction And Engineer’s stock on 29-10-2024, alongside its peers’ struggles, highlights potential strength within the company. Investors and market analysts will likely keep a watchful eye on the stock’s performance in the coming days, particularly to see how it navigates the resistance levels identified through SMA analysis. For continuous updates, insights, and statistics on business and market trends, interested readers can visit the Live Mint website.
FAQ
- What caused the increase in Garuda Construction And Engineer’s stock price?
The increase appears to be a strong performance amid declining market indices, indicating investor confidence in the company. - How does the current trading status compare with historical performance?
The stock is currently performing well above longer-term SMAs, suggesting a potential upward trend. - What should investors watch for in the upcoming trading sessions?
Investors should monitor the stock’s resistance at the 5 and 10 days SMAs, along with any changes in ownership structure.
