Manipal Finance Corporation Ltd Faces Increased Selling Pressure Amid Recent Losses

Manipal Finance Corporation Ltd is currently facing significant selling pressure, with the stock showing only sellers today. This trend marks a continuation of losses, as the stock has experienced consecutive declines over the past two days. Despite this recent downturn, the stock has demonstrated strong performance relative to the Sensex over various time frames.
In the last day, Manipal Finance Corporation Ltd declined by 0.48%, while the Sensex fell by a lesser 0.10%. Over the past week, the stock has gained 1.45%, outperforming the Sensex, which increased by 1.02%. Notably, the stock has shown remarkable growth over the past year, with a staggering 280.43% increase compared to the Sensex's 10.77%.

Several factors may be contributing to the current selling pressure, including erratic trading patterns, as the stock did not trade on four out of the last 20 days. Additionally, it is currently trading close to its 52-week high, just 3.48% away from Rs 21.73. Despite the recent selling activity, Manipal Finance Corporation Ltd remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally strong position in the market.