Nidhi Granites Ltd Faces Selling Pressure with 0.22% Decline Amid Ongoing Losses

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. In the last trading session, Nidhi Granites recorded a performance of -0.22%, contrasting sharply with the Sensex, which gained 0.78%.
Over the past week, Nidhi Granites has seen a decline of 6.04%, while the Sensex rose by 1.96%. The stock's performance over the last month, however, remains impressive at 15.87%, significantly outpacing the Sensex's 1.73% increase. Despite this, the recent selling pressure could be attributed to various factors, including profit-taking after a remarkable year-to-date performance of 71.92% compared to the Sensex's 7.66%.

Notably, Nidhi Granites reached a new 52-week and all-time high of Rs. 405 today, opening with a gain of 4.09% and touching an intraday high of Rs. 405, reflecting a 4.88% increase at one point. The stock continues to trade above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong historical performance despite the current selling trend.