Reliance Communications Faces Increased Selling Pressure Amid Diminished Investor Participation

Reliance Communications Ltd, a microcap player in the Telecom - Services industry, experienced significant trading activity today as the stock hit its lower circuit limit. The last traded price (LTP) was recorded at Rs 1.51, reflecting a decline of Rs 0.06 or 3.82% from the previous session. The stock's performance has been notably weak, underperforming its sector by 4.83% and marking a consecutive fall over the last four days, resulting in a total decline of 17.58% during this period.
The intraday trading saw a high of Rs 1.62 and a low of Rs 1.49, with a total traded volume of approximately 27.6 lakh shares, leading to a turnover of Rs 0.42 crore. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.

Investor participation has also diminished, with delivery volume dropping by 63.14% compared to the 5-day average. Overall, Reliance Communications continues to face challenges in the market, as reflected in its recent performance metrics.