Manipal Finance Faces Intense Selling Pressure Amidst Ongoing Losses

Manipal Finance Corporation Ltd is currently facing significant selling pressure, with today’s trading session showing only sellers in the market. The stock has recorded a loss of 4.99% today, starkly contrasting with the Sensex, which has gained 0.70%. This marks a continuation of a downward trend, as Manipal Finance has experienced consecutive days of losses, raising concerns among market observers.
Over the past week, the stock has also declined by 4.99%, while the Sensex has increased by 1.45%. In the last month, Manipal Finance's performance has been relatively flat, with a slight gain of 0.65%, compared to the Sensex's 1.11% rise. Despite a strong performance over the past year, where the stock surged by 280.04% against the Sensex's 5.86%, recent trends indicate a shift in market sentiment.

Potential contributing factors to the selling pressure may include erratic trading patterns, as the stock did not trade on three days out of the last 20. However, it is noteworthy that Manipal Finance is still trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating some underlying strength despite the current selling activity.