Delton Cables Faces Intense Selling Pressure Amid Consecutive Losses and Market Underperformance
Delton Cables Ltd is experiencing notable selling pressure, with the stock declining over consecutive days and underperforming against the Sensex. It opened lower today and has seen significant losses over various time frames, indicating ongoing challenges in the current market environment.
Delton Cables Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced consecutive losses over the past two days, declining by 5.13% during this period. Today, Delton Cables opened with a gap down of 2%, reaching an intraday low of Rs 682.05.In terms of performance, Delton Cables has underperformed relative to the Sensex across various time frames. Over the past day, the stock fell by 2.00%, while the Sensex gained 0.47%. In the past week, Delton Cables declined by 1.38%, contrasting sharply with the Sensex's increase of 3.97%. The stock's performance over the last month shows a significant drop of 10.14%, compared to the Sensex's rise of 3.74%. Year-to-date, Delton Cables has seen a decline of 35.29%, while the Sensex has increased by 2.10%.
The stock's moving averages indicate a mixed trend, being higher than the 5-day and 20-day averages but lower than the 50-day, 100-day, and 200-day averages. This performance highlights the ongoing challenges faced by Delton Cables in the current market environment.
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