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 4.97% in just one day, contrasting sharply with the Sensex, which has gained 0.19%. Over the past week, First Custodian Fund(I) has plummeted by 22.54%, while the Sensex has risen by 1.42%. This trend continues over a month, with the stock down 31.93% compared to a 3.78% increase in the Sensex.
The stock has now recorded consecutive losses for the last nine days, resulting in a staggering 31.98% drop during this period. It opened today with a gap down of 4.92% and reached an intraday low of Rs 101.35. The trading range has been narrow, with only a Rs 0.05 fluctuation. Additionally, First Custodian Fund(I) is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a sustained downward trend.

Potential contributing factors to this selling pressure may include broader market conditions and sector-specific challenges within the finance/NBFC industry.