Indus Finance Ltd Faces Intense Selling Pressure Amidst Consecutive Losses
Indus Finance Ltd is experiencing notable selling pressure, continuing a trend of losses over the past two days. Despite a significant annual gain, recent profit-taking has led to a decline, contrasting with the stock's previous strong performance against the Sensex and its sector.
Indus Finance Ltd is currently facing significant selling pressure, with the stock showing only sellers today. This trend marks a continuation of losses, as the stock has experienced two consecutive days of declines. In today’s trading session, Indus Finance Ltd has dropped by 7.70%, significantly underperforming the Sensex, which has only seen a modest gain of 0.32%.Over the past week, the stock has declined by 7.53%, while the Sensex has increased by 1.32%. The one-month performance shows a stark contrast, with Indus Finance up by 41.03% compared to the Sensex's 3.77%. However, the recent selling pressure may be attributed to profit-taking after a substantial rally, as the stock has gained 146.97% over the past year, far exceeding the Sensex's 7.51% increase.
Despite today's downturn, Indus Finance has outperformed its sector by 5.77%. The stock reached an intraday high of Rs 56, reflecting a 9.65% increase at one point. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong overall trend prior to the recent selling activity.
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