Garnet International Faces Intense Selling Pressure Amid Consecutive Losses and Declining Sentiment

Garnet International Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive losses over the past two days, resulting in a total decline of 10.11%. Today, the stock opened with a notable loss of 4.99%, reaching an intraday low of Rs 121.75.
In terms of performance relative to the Sensex, Garnet International has underperformed across various time frames. Over the past week, the stock has declined by 4.36%, compared to the Sensex's drop of 2.21%. The one-month performance shows a more pronounced decline of 11.29% against the Sensex's 7.16%. Year-to-date, Garnet International has fallen by 27.96%, while the Sensex has decreased by 6.64%.

Several factors may be contributing to the selling pressure, including market sentiment and broader economic conditions affecting the finance/NBFC sector. Despite its strong performance over the longer term, with a one-year gain of 107.38%, the recent trend indicates a shift in investor sentiment, leading to increased selling activity. The stock's current price is also lower than its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains above the 200-day moving average.