IRIS Business Services Faces Intense Selling Pressure Amid Significant Price Declines

IRIS Business Services Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a consecutive decline over the past three days, resulting in a total loss of 14.94%. Today, the stock opened with a gap down of 3.38% and reached an intraday low of Rs 229.1, reflecting a 5% drop at its lowest point.
In terms of performance relative to the broader market, IRIS Business Services has underperformed the Sensex significantly. Over the past day, the stock fell by 3.94%, while the Sensex gained 0.67%. Over the past week, the stock has declined by 14.24%, compared to a slight decrease of 1.01% in the Sensex. The one-month performance shows a stark contrast, with IRIS down 26.83% against a 1.72% increase in the Sensex.

The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Contributing factors to the selling pressure may include broader market dynamics, sector performance, and investor sentiment, particularly as the BPO/ITeS sector has gained 3.04% during this period.