NIIT Shares Decline Amid Broader IT Sector Weakness and Market Trends
NIIT, a small-cap player in the IT education sector, has experienced a significant decline today, with shares dropping by 7.02%. This performance marks a continuation of a downward trend, as the stock has now fallen for two consecutive days, resulting in a total decline of 9.66% over this brief period. Today, NIIT underperformed its sector, which itself has seen a decrease of 5.58%. The stock's performance today was notably weaker than the broader market, with the Sensex only declining by 0.94%. Over the past month, NIIT has faced a substantial setback, with a 21.76% drop compared to the Sensex's 4.10% decline.
Intraday trading saw NIIT reach a low of Rs 150.5, reflecting a decrease of 6.93% at its lowest point. While the stock remains above its 200-day moving average, it is currently below its 5-day, 20-day, 50-day, and 100-day moving averages, indicating a challenging short-term performance relative to longer-term trends.
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