Mahalaxmi Fabric Mills Faces Intense Selling Pressure Amid Significant Price Declines
Mahalaxmi Fabric Mills Ltd is experiencing notable selling pressure, with the stock declining significantly over various time frames, including a 42.79% drop year-to-date. It is currently trading near its 52-week low and has underperformed compared to its sector and key moving averages, indicating a persistent downward trend.
Mahalaxmi Fabric Mills Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The garment and apparel microcap has experienced consecutive losses, falling 4.98% in today's trading session alone. Over the past week, the stock has declined by 8.54%, and its performance over the last month reveals a drop of 13.05%. In stark contrast, the benchmark Sensex has shown resilience, gaining 0.02% today and 1.16% over the past week. Mahalaxmi Fabric Mills' year-to-date performance is particularly concerning, with a staggering decline of 42.79%, while the Sensex has risen by 7.13% during the same period.
The stock is currently trading just 2.8% above its 52-week low of Rs 27.47, having opened with a gap down of 2.49% today. It reached an intraday low of Rs 28.26, reflecting a broader trend of underperformance, as it has lagged behind its sector by 4.86%. Additionally, Mahalaxmi Fabric Mills is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a sustained downward trend.
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