Delton Cables Ltd Faces Intense Selling Pressure Amid Significant Price Declines

Delton Cables Ltd is currently facing significant selling pressure, with today's trading session showing only sellers in the market. The stock has experienced consecutive losses over the past two days, with a total decline of 8.33%. Today, Delton Cables Ltd reported a performance drop of 5.00%, significantly underperforming the Sensex, which fell by only 0.41%.
Over the past week, the stock has declined by 3.30%, while the Sensex has gained 0.90%. Despite a strong performance over the past month, where Delton Cables saw a 33.03% increase compared to a slight decline in the Sensex, the year-to-date performance reveals a stark contrast, with the stock down 27.33% against the Sensex's 5.17% gain.

The stock's price summary indicates an intraday high of Rs 830, reflecting a 2.95% increase at one point, but it ultimately closed at a low of Rs 765.9, marking a 5% decrease. The stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, yet it is currently below its 5-day moving average. This trend suggests a shift in market sentiment, contributing to the ongoing selling pressure.