Mangalam Industrial Finance Faces Intense Selling Pressure Amid Significant Price Declines
Mangalam Industrial Finance Ltd is experiencing notable selling pressure, with a four-day decline resulting in a 16.3% loss. The stock has reached a new 52-week low and is trading below key moving averages, reflecting challenges in market sentiment and broader economic conditions impacting the finance sector.
Mangalam Industrial Finance 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 16.3% during this period. Today, the stock fell by 4.55%, while the benchmark Sensex gained 0.87%, highlighting a stark contrast in performance.Over the past week, Mangalam Industrial Finance has seen a decline of 15.25%, compared to a 4.31% increase in the Sensex. The one-month performance reflects a drop of 19.92%, while the Sensex has risen by 2.26%. Year-to-date, the stock is down 48.78%, significantly underperforming the Sensex, which has only declined by 1.44%.
The stock has reached a new 52-week low of Rs. 1.89 today and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The persistent selling pressure may be attributed to various factors, including market sentiment and broader economic conditions affecting the finance/NBFC sector.
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