Nitco Ltd Faces Intense Selling Pressure Amid Consecutive Losses and Declining Performance

Nitco Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive losses over the past two days, resulting in a total decline of 9.73%. Today, Nitco's stock price fell by 4.98%, significantly underperforming the Sensex, which decreased by only 0.53%.
In terms of broader performance, Nitco has struggled over the past month, with a decline of 20.24%, compared to the Sensex's drop of 3.37%. Over the last three months, the stock has plummeted by 31.02%, while the Sensex has only decreased by 9.57%. Despite a strong performance over the past year, where Nitco gained 53.76%, the year-to-date performance shows a decline of 21.53%, contrasting with the Sensex's loss of 5.65%.

The stock opened with a gap down of 4.93% today and reached an intraday low of Rs 99.3. Additionally, Nitco is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The narrow trading range of Rs 0.05 further highlights the lack of buying interest in the stock.