Southern Magnesium & Chemicals Hits 52-Week Low Amid Ongoing Market Struggles
Southern Magnesium & Chemicals has faced notable volatility, hitting a new 52-week low of Rs. 160. The stock has underperformed its sector and is trading below all key moving averages. Over the past year, it has declined significantly, contrasting with the overall market's positive performance.
Southern Magnesium & Chemicals, a microcap player in the non-ferrous metals industry, has experienced significant volatility today, reaching a new 52-week low of Rs. 160. This decline marks a notable performance dip, as the stock has underperformed its sector by 0.82%. Over the past two days, the stock has seen a consecutive fall, with a total decline of 2.94%.Today's trading session saw the stock hit an intraday low of Rs. 160, reflecting a decrease of 5.55% at its lowest point. In terms of moving averages, Southern Magnesium & Chemicals is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend in its price action.
Looking at the broader picture, the company's performance over the past year has been challenging, with a decline of 27.58%, contrasting sharply with the Sensex, which has gained 6.46% during the same period. These metrics highlight the ongoing struggles faced by Southern Magnesium & Chemicals in the current market landscape.
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