First Custodian Fund(I) Faces Intense Selling Pressure Amid Significant Price Declines

First Custodian Fund(I) Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced a notable decline of 4.99% in just one day, contrasting sharply with the Sensex, which has gained 0.46%. Over the past week, First Custodian Fund(I) has lost 19.63%, while the Sensex has risen by 4.17%. This trend of consecutive losses extends to six days, during which the stock has plummeted by 20.7%.
In terms of longer-term performance, First Custodian Fund(I) has seen a year-to-date decline of 21.75%, compared to a slight drop of 1.13% in the Sensex. Despite a strong performance over the past year, with a gain of 126.12%, the recent downturn has overshadowed these gains. The stock opened today with a gap down, hitting an intraday low of Rs 118.15.

The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Factors contributing to this selling pressure may include market sentiment and sector-specific challenges within the finance/NBFC industry.