Nidhi Granites Faces Intense Selling Pressure Amid Consecutive Losses and Market Volatility

Nidhi Granites Ltd is currently facing significant selling pressure, with the stock showing only sellers today. This trend is underscored by consecutive days of losses, as the stock has been on a downward trajectory recently. In terms of performance, Nidhi Granites has outperformed the Sensex today, declining by 2.61% compared to the Sensex's modest drop of 0.14%. Over the past week, the stock has seen a decline of 6.42%, while the Sensex fell by 1.60%.
Despite a strong performance over longer periods, including a 30.66% increase over the past year, the year-to-date performance shows a decline of 16.04%, contrasting sharply with the Sensex's gain of 5.41%. The stock has also demonstrated remarkable growth over three, five, and ten-year periods, with increases of 503.83%, 1598.88%, and 1491.58%, respectively.

Factors contributing to the current selling pressure may include market volatility and investor sentiment shifts. The stock opened today with a gain of 3.15% and reached an intraday high of Rs 190, but has since faced challenges, trading within a narrow range of Rs 1. Nidhi Granites is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a complex market position.