Shankara Building Products Hits Day Low of Rs 134.8 Amid Price Pressure

Shankara Building Products has experienced significant volatility today, with the stock hitting an intraday low of Rs 134.8, reflecting a decline of 7.19%. This marks a continuation of a downward trend, as the stock has now fallen for 11 consecutive days, resulting in a cumulative drop of 42.61% over this period.
Today's performance saw Shankara Building Products underperforming its sector by 7%, with a total loss of 7.47% recorded. The stock's intraday high reached Rs 152.8, indicating a brief moment of recovery before the decline resumed.

In terms of moving averages, Shankara Building Products is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging market position. Over the past week, the stock has declined by 22.53%, and its performance over the last month shows a substantial drop of 44.30%.

While the broader market, represented by the Sensex, has shown resilience, trading positively after an initial dip, Shankara Building Products continues to face headwinds in its performance metrics.