New Light Apparels Faces Intense Selling Pressure Amid Significant Price Declines

New Light Apparels Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a consecutive decline over the past 21 days, resulting in a staggering loss of 69.45% during this period. Today, the stock fell by 4.73%, while the benchmark Sensex recorded a modest gain of 0.32%.
In the past week, New Light Apparels has seen a decline of 21.46%, contrasting sharply with the Sensex's increase of 0.76%. Over the past year, the stock has dropped 23.15%, while the Sensex has risen by 9.49%. The three-year performance shows a decline of 7.47% for New Light Apparels, compared to a substantial 48.62% gain in the Sensex. Over five years, the stock has plummeted by 52.92%, while the Sensex has surged by 151.57%.

Today, New Light Apparels hit a new 52-week low of Rs. 1.61 and underperformed its sector by 4.94%. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent downward trend. The ongoing selling pressure may be attributed to various factors, including market sentiment and company-specific challenges.