Garnet International Faces Intense Selling Pressure Amid Significant Price Declines
Garnet International Ltd is experiencing significant selling pressure, marking its fifth consecutive day of losses with a notable decline. The stock has underperformed compared to the Sensex, showing a stark contrast in performance over the past week and month, while trading below key moving averages.
Garnet International Ltd is currently facing significant selling pressure, with today's trading session showing only sellers in the market. The stock has experienced a notable decline of 4.96% today, underperforming the Sensex, which has gained 0.31%. This marks the fifth consecutive day of losses for Garnet International, during which it has plummeted by 21.40%.Over the past week, the stock has shown a stark contrast to the Sensex, which has remained relatively stable with a mere 0.04% increase. In the last month, Garnet International's performance has deteriorated further, with a decline of 31.63%, while the Sensex has only dipped by 0.54%.
The stock opened today with a gap down of 4.31% and reached an intraday low of Rs 109.25. It has been trading in a narrow range of Rs 0.75, indicating limited volatility. Additionally, Garnet International is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, highlighting a bearish trend.
The ongoing selling pressure may be attributed to various factors, including market sentiment and broader economic conditions affecting the finance/NBFC sector.
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