Manipal Finance Corporation Faces Intense Selling Pressure Amid Significant Price Declines

Manipal Finance Corporation Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has recorded a notable decline of 4.97% in its stock price, contrasting sharply with the Sensex, which has gained 0.27% on the same day. This marks a continuation of a downward trend, as the stock has experienced consecutive losses over the past week, with a total decline of 9.70%, while the Sensex has only dipped by 0.26%.
Over the past three months, Manipal Finance Corporation has seen a substantial drop of 25.69%, compared to a minor decrease of 0.97% in the Sensex. Despite a strong performance over the past year, where the stock surged by 165.60%, recent trends indicate a shift in market sentiment. The stock's performance has been erratic, with trading halted on four occasions in the last 20 days.

Additionally, while the stock remains above its 100-day and 200-day moving averages, it is currently below its 5-day, 20-day, and 50-day moving averages, suggesting a potential shift in momentum. The combination of these factors may be contributing to the heightened selling activity observed today.