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 company has experienced a notable decline, with its stock price falling by 4.99% in a single day, contrasting sharply with the Sensex, which has only dipped by 0.04%. Over the past week, First Custodian Fund(I) has lost 22.55%, while the Sensex gained 3.36%. This trend continues over the month, with the stock down 28.66% compared to a 4.53% increase in the Sensex.
The stock has been on a downward trajectory for the last eight consecutive days, resulting in a total decline of 28.42% during this period. Today, it opened with a gap down of 3.79% and reached an intraday low of Rs 106.65. 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 bearish trend.

Factors contributing to this selling pressure may include broader market conditions and sector-specific challenges within the finance/NBFC industry. Despite a strong performance over the past year, the current downturn highlights significant volatility and investor sentiment shifts.