Nidhi Granites Faces Intensified Selling Pressure Amid Ongoing Price Declines

Nidhi Granites Ltd is currently facing significant selling pressure, with the stock showing only sellers today. This trend marks a continuation of consecutive days of losses, raising concerns among market observers. Over the past week, Nidhi Granites has recorded a decline of 3.79%, while the broader Sensex has fallen by 1.63%.
Despite a positive performance in the short term, with a 1.01% increase today compared to the Sensex's decline of 0.51%, the stock has struggled year-to-date, down 19.68% against the Sensex's gain of 5.05%. Over the last month, Nidhi Granites has managed a modest increase of 1.52%, outperforming the Sensex, which rose by 1.19%.

The stock's erratic trading pattern is notable, as it did not trade on one day out of the last 20. Today, it opened with a gap up of 2.91%, reaching an intraday high of Rs 184.2. However, the overall trend indicates a challenging environment for Nidhi Granites, as it continues to navigate through selling pressure amidst fluctuating market conditions.