MMTC share jumps today, 16.84% on 29th May 2025, closing at INR 81.11, up from the previous day's INR 69.42. This sharp rise made MMTC one of the top gainers in the stock market. So let's see the reason behind this jump.
Strong Trading Volumes
The stock saw very high trading volumes, with over 85 lakh shares, which shows strong attraction from investors
Technical Breakout
MMTC’s share price crossed important moving averages, including the 200-day moving average. Technical signals usually attract more buyers and can also lead to strong price moves.
Positive Market Sentiment for PSU Trading Firms
In the other public sector trading companies like STC and MSTC, also rebounded. The investors are showing renewed interest in PSU trading firms. It is possibly because these stocks are seen as undervalued after falling from their 52-week highs.
Recent Board Meeting
MMTC held a board meeting on 28th May 2025 to discuss audited results, and such events can create positive momentum if investors predict good news or future growth.
Short-Term Trend
Expert analysts reported that MMTC is now in an overbought zone, but it also moved above INR 80, which could lead to further gains. In fact, this stock has gained 41.5% in the past month and 64.6% in the last three months, which is an impressive performance in the view of investors.
Conclusion
In conclusion, MMTC share jumps today, 16.84% on 29th May 2025. It is mainly due to strong buying interest from investors, technical factors, and a positive trend in public sector trading stocks.
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