Manaksia Aluminium Falls 10.37%: 4 Key Factors Behind the Sharp Weekly Decline

19 January 2026: Surge to New Highs Amid Market Weakness

Manaksia Aluminium began the week on a strong note, surging to a new 52-week and all-time high of Rs.63.45. The stock recorded an intraday gain of 7.32%, opening with a gap-up of 4.58%, and closed near its upper circuit limit with a 9.75% daily gain. This rally was driven by robust buying interest, reflected in a high volume of 24.88 lakh shares and a turnover of Rs.15.61 crore. The stock outperformed the Non-Ferrous Metals sector by over 5% and the Sensex, which declined 0.49% that day. Technical indicators showed the stock trading above all key moving averages, signalling strong momentum. The MarketsMOJO Mojo Score stood at 54.0 with a Hold rating, upgraded from Sell earlier in January.

20 January 2026: Momentum Continues with Another Upper Circuit Hit

On 20 January, Manaksia Aluminium extended its winning streak to seven consecutive sessions, hitting a fresh 52-week high of Rs.68.28. The stock gained 4.75% on the day, closing at Rs.68.12 after hitting the upper circuit limit again. Despite a broader market decline where the Sensex fell 0.49%, the stock outperformed its sector peers and the benchmark index. Trading volumes remained significant, though delivery volumes declined by 21.54% compared to the previous day, suggesting some speculative activity. The stock maintained its position above all major moving averages, reinforcing the bullish technical setup. The Mojo Score was slightly lower at 51.0 but retained the Hold rating, reflecting cautious optimism.

21 January 2026: Sharp Reversal with Lower Circuit Hit

The bullish momentum abruptly reversed on 21 January as Manaksia Aluminium plunged to its lower circuit limit at Rs.58.56, marking a 5.0% loss. The stock opened sharply lower and remained locked at this price throughout the session, with no recovery attempts. Trading volumes dropped significantly to 0.171 lakh shares, and delivery volumes fell by over 90%, indicating panic selling and reduced investor participation. This decline contrasted with a 2.19% gain in the Non-Ferrous Metals sector and a marginal 0.08% fall in the Sensex, highlighting company-specific selling pressure. Despite the sharp fall, the stock price remained above its longer-term moving averages, though the short-term outlook turned bearish.

22 January 2026: Continued Selling Pressure and Lower Circuit Lock

Manaksia Aluminium’s downtrend persisted on 22 January, with the stock again hitting the lower circuit limit at Rs.55.64, a 4.99% decline. The stock remained locked at this level all day, with extremely low traded volume of just 0.07982 lakh shares and a turnover of Rs.0.044 crore. Delivery volumes collapsed by nearly 100%, signalling a sharp drop in investor confidence. The Non-Ferrous Metals sector also declined by 3.01%, but Manaksia Aluminium underperformed even this sector fall. The stock slipped below its 5-day moving average, indicating short-term bearish momentum despite longer-term technical support. The Mojo Score remained at 51.0 with a Hold rating, reflecting a cautious stance amid the volatility.

23 January 2026: Fourth Consecutive Lower Circuit Hit

The week ended with Manaksia Aluminium hitting the lower circuit limit for the fourth straight day, closing at Rs.52.86 after a 5.0% decline. The stock opened sharply lower and remained locked at this price, with no intraday recovery. Trading volumes were subdued at 0.16977 lakh shares, and delivery volumes plunged by 99.82%, indicating extreme investor caution and panic selling. This performance starkly contrasted with a 4.18% gain in the Non-Ferrous Metals sector and a flat Sensex, underscoring company-specific challenges. Despite the recent rating upgrade to Hold and a Mojo Score of 54.0, the stock’s technical and sentiment outlook remains fragile amid persistent selling pressure.

Key Takeaways from the Week

Strong Early Momentum: The stock’s initial surge to Rs.68.28 and multiple upper circuit hits reflected robust buying interest and positive technical momentum, supported by a Mojo Score upgrade to Hold.

Sharp Reversal and Volatility: The latter half of the week saw intense selling pressure, with four consecutive lower circuit hits signalling panic selling and a rapid loss of investor confidence.

Underperformance vs Sensex and Sector: While the Sensex declined 3.31% and the Non-Ferrous Metals sector showed mixed performance, Manaksia Aluminium’s 10.37% weekly fall highlighted company-specific challenges.

Liquidity and Delivery Volume Concerns: Declining delivery volumes and subdued trading activity during the sell-off phase suggest reduced genuine investor participation and heightened speculative volatility.

Conclusion: A Week of Contrasting Extremes

Manaksia Aluminium Company Ltd’s week was characterised by a dramatic shift from record highs and strong technical positioning to a steep correction marked by multiple lower circuit hits. The stock’s initial outperformance against the Sensex and sector indices gave way to sharp underperformance amid heavy selling pressure and investor caution. Despite the MarketsMOJO upgrade to a Hold rating and a Mojo Score in the low 50s, the stock’s micro-cap status and recent volatility underscore the need for careful monitoring of upcoming corporate developments and sector trends. Investors should remain vigilant to liquidity risks and price swings as the stock seeks to stabilise after this volatile spell.

Unlock special upgrade rates for a limited period. Start Saving Now →