Inducto Steel Faces Intense Selling Pressure Amid Significant Price Declines

Inducto Steel Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a consecutive decline over the past eight days, resulting in a total loss of 10.13% during this period. Today, the stock opened with a gap down of 2%, reaching an intraday low of Rs 70.59, and has remained at this price level throughout the trading session.
In terms of performance relative to the broader market, Inducto Steel has underperformed against the Sensex. Over the last day, the stock fell by 2.00%, while the Sensex showed a slight increase of 0.04%. Over the past week, Inducto Steel's performance has been even more pronounced, with an 8.32% decline compared to the Sensex's drop of just 1.11%.

Looking at longer-term trends, the stock has seen a significant decline of 34.24% over the past year, contrasting sharply with the Sensex's modest gain of 2.34%. Despite some positive performance over three, five, and ten-year periods, the recent selling pressure raises questions about the factors contributing to this trend, including market sentiment and sector-specific challenges.