The Economic Times daily newspaper is available online now.

    Shares of Max Financial fall as Nifty drops

    Synopsis

    On the technical charts, the 200-day moving average of the stock stood at Rs 764.04.

    Trading guideGetty Images
    Nifty moved in a tight range of 82 points, and ended slightly below the psychologically crucial level of 15,700.
    Shares of Max Financial Services Ltd. slipped 0.54 per cent to Rs 834.65 in Monday's trade as of 12:19PM (IST). It hit a high of Rs 845.2 and low of Rs 825.15 during the session.

    The stock quoted a 52-week high price of Rs 960.0 and a low of Rs 627.8. The return on equity for the stock stood at 6.43 per cent. About 9,941 shares have changed hands on the counter so far.

    The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.27.

    The scrip has been an underperformer, down 8.73 per cent in the past one year in comparison with a 2.38 per cent gain in Sensex.

    Technicals
    On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 627.8 on January 30, while the 50-DMA was at Rs 730.22. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

    Promoter/FII Holding
    Promoters held 14.72 per cent stake in Max Financial Services Ltd. as of 31-Dec-2022. Mutual funds and foreign institutional investors held 28.0 per cent and 23.76 per cent stake.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in