Kitex Garments Faces Intense Selling Pressure Amidst Broader Market Decline

May 06 2025 03:10 PM IST
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Kitex Garments Ltd is experiencing notable selling pressure, with a decline over the past two days and a significant drop in the last week. Despite a strong monthly performance, recent trends suggest a shift in market sentiment, compounded by a downturn in the textile sector.
Kitex Garments Ltd is currently facing significant selling pressure, with today's trading session showing only sellers in the market. The stock has recorded a decline of 4.99%, starkly contrasting with the Sensex, which has only dipped by 0.15%. This marks the second consecutive day of losses for Kitex Garments, accumulating a total decline of 5.49% over this period.

In the past week, the stock has underperformed with a 9.78% drop, while the Sensex has gained 0.48%. Despite a strong performance over the past month, where Kitex Garments rose by 15.34% compared to the Sensex's 7.04%, the recent trend indicates a shift in market sentiment. The textile sector itself has also seen a decline of 2.27%, contributing to the selling pressure on Kitex Garments.

The stock's intraday low today was Rs 229.65, and while it remains above its 20-day, 50-day, 100-day, and 200-day moving averages, it is currently below its 5-day moving average. This performance highlights the challenges facing Kitex Garments amidst a broader market context.
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