Onix Solar Energy Ltd Faces Heavy Selling Pressure with 4.99% Decline Amid Sustained Losses
Onix Solar Energy Ltd is experiencing significant selling pressure, with its stock declining for four consecutive days and showing a notable drop over the past week and month. The company's performance contrasts sharply with the broader market, particularly the Non-Ferrous Metals sector, which has remained resilient.
Onix Solar Energy Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a notable decline, with its stock price down 4.99% in a single day, contrasting sharply with the Sensex, which has gained 0.06%. Over the past week, Onix Solar has lost 14.68%, while the Sensex has decreased by only 2.05%. The stock has now recorded four consecutive days of losses, totaling a decline of 15.32% during this period. Onix Solar opened the day with a gap down of 3.07% and reached an intraday low of Rs 259.75. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.
In contrast, the Non-Ferrous Metals sector has shown resilience, gaining 2.54%. This divergence may suggest that broader market conditions or specific company-related issues are contributing to the selling pressure on Onix Solar Energy Ltd. The stock's performance over the past month reflects a decline of 28.26%, while the Sensex has managed a modest increase of 0.76%.
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