Power & Instrumentation (Gujarat) Ltd Faces Intense Selling Pressure Amid Significant Price Declines
Power & Instrumentation (Gujarat) Ltd is experiencing significant selling pressure, marking its twelfth consecutive day of losses. The stock has seen a cumulative decline of 23.8% over this period, with notable decreases over the past week and month, while the broader engineering sector also faces challenges.
Power & Instrumentation (Gujarat) Ltd is currently facing significant selling pressure, with today's trading session showing only sellers. The stock has experienced a notable decline of 4.99%, underperforming the Sensex, which is down by 0.98%. This marks the twelfth consecutive day of losses for the microcap engineering firm, during which it has seen a cumulative drop of 23.8%. Over the past week, Power & Instrumentation (Gujarat) Ltd has declined by 12.31%, and its performance over the last month reveals a staggering 35.16% decrease, compared to the Sensex's modest 2.12% decline. Year-to-date, the stock has fallen 35.37%, while the Sensex has decreased by 4.56%.
The stock opened today at Rs 214.15, reflecting a gap down from the previous close, and reached an intraday low of the same price. Despite being above the 200-day moving average, it remains below the 5-day, 20-day, 50-day, and 100-day moving averages. The engineering sector overall has also faced challenges, with a decline of 3.01%. These factors contribute to the ongoing selling pressure observed in Power & Instrumentation (Gujarat) Ltd.
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