Reliance Infrastructure Faces Intense Selling Pressure Amid Significant Price Declines

Reliance Infrastructure 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 4.88%, sharply underperforming the Sensex, which is down just 0.30%. This marks a continuation of a troubling trend, as Reliance Infrastructure has recorded consecutive days of losses, with a weekly decline of 8.79% compared to the Sensex's 0.64% drop.
Over the past month, the stock has plummeted by 23.11%, while the Sensex has only dipped by 3.29%. Despite a strong performance over the longer term, including a 45.66% increase over the past year, the recent downturn raises concerns. Year-to-date, Reliance Infrastructure has gained 2.63%, lagging behind the Sensex's 3.59% rise.

Today's trading saw the stock open with a gap down of 4.88%, reaching an intraday low of Rs 311.6, reflecting a 5% decline. The stock's moving averages indicate a mixed performance, being higher than the 100-day and 200-day averages but lower than the 5-day, 20-day, and 50-day averages. This selling pressure may be influenced by broader market trends and sector-specific challenges within the power industry.