Garnet International Faces Intense Selling Pressure Amid Consecutive Losses and Underperformance

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 three days, resulting in a total decline of 14.58%. Today, the stock opened with a gap down of 3.9% and reached an intraday low of Rs 115.7, reflecting a decrease of 4.97%.
In terms of performance relative to the Sensex, Garnet International has underperformed across various time frames. Over the past week, the stock has dropped 9.11%, while the Sensex has only declined by 1.39%. The one-month performance shows a stark contrast, with Garnet International down 17.00% compared to the Sensex's 6.01% decline. Year-to-date, the stock has fallen 31.54%, significantly underperforming the Sensex, which is down 5.85%.

Several factors may be contributing to this selling pressure, including broader market trends and potential sector-specific challenges within the finance/NBFC industry. Additionally, Garnet International is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.