Telecommunication Equipment Sector Faces Pressure as ITI Stock Continues Downward Trend
ITI, a major player in the telecommunications sector, has faced a significant decline in its stock price, continuing a downward trend over the past two days. The stock is trading below key moving averages and has underperformed relative to the broader market, with notable year-to-date losses.
ITI, a large-cap player in the telecommunication equipment industry, has experienced a notable decline today, with its stock price dropping by 3.01% as of May 9, 2025. This performance marks a continuation of a downward trend, as the stock has now fallen for two consecutive days, resulting in a total decline of 5.14% over this period.Opening the day with a loss of 2.02%, ITI reached an intraday low of Rs 236.9, reflecting a decrease of 3.54%. In terms of moving averages, ITI is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.
Comparatively, ITI's performance has underperformed against the broader market, with a 1-day decline of 3.36% versus the Sensex's decrease of 0.99%. Over the past week, ITI has seen a 7.65% drop, while the Sensex has only declined by 1.19%. The stock's year-to-date performance is particularly concerning, showing a significant decline of 38.65% compared to the Sensex's modest gain of 1.79%.
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