Delton Cables Faces Intense Selling Pressure Amid Consecutive Losses and Market Underperformance
Delton Cables Ltd is experiencing notable selling pressure, with consecutive losses leading to a decline of 5.7% over two days. The stock has underperformed compared to the Sensex across various time frames, including a significant drop of 38.28% over three months, indicating a challenging trading environment.
Delton Cables Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced consecutive losses, falling by 5.37% in the last trading session alone. Over the past two days, Delton Cables has recorded a total decline of 5.7%. In terms of performance relative to the Sensex, Delton Cables has underperformed across various time frames. For instance, while the Sensex gained 0.09% today, Delton Cables fell sharply. Over the past week, the stock is down 0.80%, compared to a 3.65% increase in the Sensex. The one-month performance shows a decline of 5.35% for Delton Cables, while the Sensex rose by 4.62%.
The stock's performance over three months reveals a staggering drop of 38.28%, contrasting with a slight decrease of 0.54% in the Sensex. Factors contributing to this selling pressure may include market sentiment, sector-specific challenges, or company-specific issues. The stock touched an intraday low of Rs 700.3, indicating a challenging trading environment. Despite its long-term growth, recent trends suggest a need for careful observation.
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