Saraswati Commercial Faces Intense Selling Pressure Amidst Ongoing Price Declines
Saraswati Commercial (India) Ltd is experiencing intense selling pressure, marked by a 13-day consecutive decline totaling 21.02%. The stock opened lower today and has significantly underperformed compared to the Sensex, reflecting broader market trends and challenges within the Non-Banking Financial Company sector.
Saraswati Commercial (India) Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has been on a downward trend, experiencing consecutive losses for the past 13 days, resulting in a total decline of 21.02% during this period. Today, it opened with a gap down of 2%, reaching an intraday low of Rs 13,687.9.In terms of performance, Saraswati Commercial has underperformed relative to the Sensex, which has shown a slight gain of 0.42% today. Over the past week, the stock has dropped by 9.61%, while the Sensex has only decreased by 0.36%. The one-month performance reveals a significant decline of 16.03% for Saraswati Commercial, contrasting with the Sensex's modest gain of 0.67%.
Factors contributing to the selling pressure may include broader market trends and sector-specific challenges within the Non-Banking Financial Company (NBFC) industry. Currently, Saraswati Commercial is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.
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