Manaksia Coated Metals Faces Intense Selling Pressure Amid Consecutive Losses

Manaksia Coated Metals & Industries Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The stock has experienced consecutive losses over the past four days, resulting in a total decline of 6.26%. Today, it has dropped by 1.99%, underperforming the Sensex, which has gained 0.34%.
In the past week, Manaksia's performance has been particularly weak, with a 6.42% decline compared to a 1.65% increase in the Sensex. Over the last three months, the stock has fallen by 14.88%, while the Sensex has risen by 3.89%. Despite a strong yearly performance of 78.15%, the year-to-date results show a significant drop of 24.62%, contrasting sharply with the Sensex's 3.04% gain.

The stock opened at 89.1 and has remained at this price throughout the trading session. While it is trading above its 20-day, 50-day, and 200-day moving averages, it is below its 5-day and 100-day moving averages. This trend indicates a potential shift in market sentiment, contributing to the ongoing selling pressure.