Nidhi Granites Ltd Achieves Significant Gains Amid Strong Buying Activity and Market Sentiment

Nidhi Granites Ltd is currently witnessing significant buying activity, with the stock gaining 4.99% today, outperforming the Sensex, which rose by only 0.17%. Over the past week, Nidhi Granites has shown remarkable performance, with a 21.27% increase compared to a slight decline of 0.37% in the Sensex. This trend continues over a month, where the stock has surged by 25.66%, while the Sensex has managed only a modest gain of 0.52%.
Notably, Nidhi Granites has experienced consecutive gains for the last six days, accumulating a total return of 21.37% during this period. The stock opened today with a gap up of 2.5% and reached an intraday high of Rs 218.65. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.

The buying pressure may be attributed to various factors, including positive market sentiment and the company's robust performance metrics over different time frames, particularly its impressive 600.80% increase over the past three years and a staggering 1865.39% rise over the last five years.