Stock Track | NOVOSENSE Plummets 6.38% Intraday Amid Semiconductor Sector Correction, National IC Fund Selling and Profit-Taking

Stock Track
Jun 02

NOVOSENSE's stock plummeted 6.38% during intraday trading on Tuesday, reflecting significant selling pressure on the semiconductor company.

The decline was driven by multiple factors including a broad correction in the semiconductor sector, with sector peers such as Montage Technology, GigaDevice, and Innoscience also trading lower. Industry analysts noted that trading congestion in the semiconductor sector has reached historical highs following sustained rallies, presenting short-term technical correction risks.

Additionally, market sentiment was suppressed by the National Integrated Circuit Industry Investment Fund's recent reduction of holdings in multiple semiconductor companies. NOVOSENSE itself had accumulated a 49.15% share price gain during its previous shareholder reduction period, and ongoing profit-taking continues to exert selling pressure alongside the broader sector adjustment.

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