National Securities Depository Limited fell to a fresh lifetime low of Rs734.50 on the BSE, trading 8% below its Rs800 IPO price and 48.5% below its post-listing high of Rs1,425 from August 2025. SBI Securities analyst Sunny Agrawal attributed the weakness to moderation in capital-markets euphoria, valuation de-rating and slower demat additions, while Choice Broking analyst Hitesh Tailor noted the stock trades below all key exponential moving averages on drying volumes with resistance at Rs790-820 and support around Rs700.