Shankara Building Products Faces Selling Pressure, Stock Declines 4.99% Amid Nine-Day Loss Streak

Shankara Building Products Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a notable decline, with its stock price down by 4.99% in a single day, contrasting sharply with the Sensex, which has gained 0.27%. Over the past week, Shankara Building Products has lost 18.50%, while the Sensex has risen by 1.44%.
The stock has now seen consecutive losses for the last nine days, accumulating a staggering 36.91% decline during this period. In terms of broader performance metrics, Shankara Building Products has underperformed the sector by 5.13% today alone. The stock opened at Rs 148.65 and reached an intraday low of the same price, indicating a lack of upward movement.

Factors contributing to this selling pressure may include high volatility, with an intraday volatility rate of 19.86%, and the stock trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This trend highlights the challenges faced by Shankara Building Products in the current market environment.