Lakhotia Polyesters Faces Selling Pressure with 4.97% Decline Amidst 40.02% Loss Over Ten Days

Lakhotia Polyesters (India) Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a notable decline, with a 4.97% drop in its share price, contrasting sharply with the Sensex, which saw a marginal increase of 0.04%. This marks the tenth consecutive day of losses for Lakhotia Polyesters, during which the stock has plummeted by 40.02%.
Over the past week, the stock has declined by 22.55%, while the Sensex has gained 0.28%. In the last month, Lakhotia Polyesters has underperformed, with a decrease of 2.49% compared to the Sensex's rise of 5.35%. Despite a strong performance over the past year, where the stock surged by 265.86%, recent trends indicate a shift in market sentiment.

The stock opened today at Rs 106.1, hitting an intraday low of the same price, and has traded within this range throughout the day. While it remains above its 50-day, 100-day, and 200-day moving averages, it is currently below its 5-day and 20-day moving averages. The ongoing selling pressure may be attributed to various market dynamics, including investor sentiment and broader economic factors affecting the garments and apparel industry.