JK Lakshmi Cement gains 3.8 per cent on thin volume

JK Lakshmi Cement gains 3.8 per cent on thin volume
14 October 2008

JK Lakshmi Cement , India’s thirty-fourth largest Construction company by market capitalisation, gained INR1.65 (or 3.8 per cent) to INR45.60, ending a five-day streak of losses. Compared with the BSE Sensex Index which rose 804.4 points (or 7.6 per cent) on the day, this represented a relative price change of -3.9 per cent. The aggregate volume was 0.7 times average trading of 138,418 shares.

Volatility: The stock traded between an intraday low of INR43.95 and two-day high of INR46.40.

Moving Average Price (MAP): The price to 200-day MAP ratio is 0.42, a bearish indicator. In the past 200 days this ratio has been under 0.42 just once suggesting a support level. The stock is trading below both its MAPs and the 50-day MAP of INR72.56 is lower than the 200-day MAP of INR108.12, a bearish indicator. The 200-day MAP has decreased to INR108.12. A decrease is another bearish indicator. In the last three months the number of falls outnumbered rises 40:19 or 2.11:1.
Published under Cement News