Popees Cares Ltd Faces Intense Selling Pressure, Stock Declines 3.11% to New 52-Week Low

Popees Cares Ltd is currently facing significant selling pressure, with today's trading session showing only sellers in the market. The stock has experienced a notable decline of 3.11% today, contrasting sharply with the Sensex, which has seen a marginal increase of 0.02%. This marks the seventh consecutive day of losses for Popees Cares, during which it has plummeted by 35.54%.
Over the past week, the stock has dropped 16.77%, while the Sensex has gained 0.74%. The longer-term performance is equally concerning, with Popees Cares down 60.67% over the past three months and a staggering 94.31% over the past year, compared to the Sensex's 5.63% increase in the same timeframe. The stock has also hit a new 52-week low of Rs. 14 today.

Several factors may be contributing to this selling pressure, including the stock's underperformance relative to its sector and its position below key moving averages across various timeframes. As a microcap in the garments and apparels industry, Popees Cares is facing challenges that have led to this sustained decline.