Manipal Finance Corporation Sees Increased Buying Activity Amid Recent Price Volatility

Manipal Finance Corporation Ltd, a microcap player in the Non-Banking Financial Company (NBFC) sector, is currently witnessing strong buying activity despite recent price declines. The stock has experienced consecutive losses over the past two days, with a total drop of 9.63%. Today, it is down 4.94%, underperforming the Sensex, which has only decreased by 0.19%.
Over the past week, Manipal Finance has seen a significant decline of 14.14%, while the Sensex has fallen just 0.46%. In the last month, the stock has plummeted by 32.30%, contrasting sharply with the Sensex's modest gain of 0.86%. However, on a yearly basis, the stock has shown remarkable resilience, with an increase of 89.32%, compared to the Sensex's decline of 3.44%.

Price summary indicates that the stock opened with a gap up but has struggled to maintain momentum. It is currently trading above its 200-day moving average but below its shorter-term moving averages, suggesting erratic trading patterns. The recent buying pressure may be attributed to market participants capitalizing on perceived value despite the stock's recent volatility.