Southern Magnesium & Chemicals Faces Intense Selling Pressure Amid Significant Price Declines
Southern Magnesium & Chemicals Ltd is experiencing notable selling pressure, with a four-day decline resulting in a 12.1% loss. The stock is trading below key moving averages and is nearing its 52-week low, reflecting ongoing challenges in the market compared to the Sensex's performance.
Southern Magnesium & Chemicals Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a consecutive decline over the past four days, resulting in a total loss of 12.1% during this period. Today, the stock fell by 7.36%, starkly contrasting with the Sensex, which gained 0.47%.In the past week, Southern Magnesium & Chemicals has dropped 12.62%, while the Sensex rose by 1.70%. Over the last month, the stock has lost 12.65%, compared to a 4.07% increase in the Sensex. Year-to-date, the stock is down 50.79%, while the Sensex has only slightly declined by 0.63%.
The stock is now just 2.5% away from its 52-week low of Rs 128.5, having touched an intraday low of Rs 131.65 today. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent downward trend. The underperformance against its sector by 5.29% further highlights the challenges facing Southern Magnesium & Chemicals in the current market environment.
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