Nidhi Granites Faces Selling Pressure Amidst Notable Price Declines and Losses

Nidhi Granites Ltd is currently facing significant selling pressure, with today's trading session reflecting a stark absence of buyers. The stock has recorded a loss of 2.00% today, contrasting sharply with the Sensex's decline of only 0.38%. This marks a continuation of a downward trend, as Nidhi Granites has experienced consecutive days of losses.
Despite the current selling activity, Nidhi Granites has shown remarkable performance over the longer term. Over the past week, the stock gained 3.70%, while the Sensex fell by 1.88%. In the past month, Nidhi Granites surged by 28.05%, significantly outperforming the Sensex, which declined by 1.92%. The three-month and one-year performances are equally impressive, with gains of 76.10% and 80.37%, respectively, compared to the Sensex's losses.

The stock recently hit a new 52-week and all-time high of Rs. 306, indicating strong historical performance. Additionally, Nidhi Granites is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a robust position in the market despite today's selling pressure. Factors contributing to this selling activity may include profit-taking after substantial gains and broader market sentiment.