Jewellery

This jewellery stock closes with 27% gains, surged 82% in 6 days

This jewellery stock closes with 27% gains, surged 82% in 6 days

hares of PC Jewellers traded at Rs 88.20, soaring 27.09 percent at market close on Friday. The stock opened at Rs 76.30, up 9.85 percent from its Thursday’s close of 69.40. Intra-day, the smallcap stock surged nearly 30 percent to hit the day’s high at Rs 90.25.

The stock outperfomed the sector by nearly 24 percent on Friday and has been rising from the last six days on value buying, fueled by hopes of increase in festive sales.

During the period, it has gained 82.15 percent, rising from its 52-week low value of Rs 46.85 on October 26 last month.

For the year, the stock has fallen by nearly 75 percent. The jewellery stock had touched its life-time high of Rs 600.65 earlier this year on January 16.

The stock ended above its 20 day and 50 day moving average of Rs 55.68 and Rs 71.19, respectively, but settled lower below its 100 day moving average of Rs 93.83 and 200-day moving average of Rs 208.6.
Meanwhile, benchmark indexes closed higher on Friday, ending week with 5 percent gains. The Sensex settled at 35,011.65, rising 580 points, or 1.68 percent, while the Nifty ended at 10,553, gaining 172 points or 1.66 percent.

[“source=TimeOFIndia”]