Mangalam Industrial Finance Faces Intense Selling Pressure Amidst Ongoing Losses

Mangalam Industrial Finance Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive days of losses, with a decline of 1.96% in today's trading session. Over the past week, the stock has dropped 3.85%, and its performance has been consistently negative, with a staggering 65.91% loss over the past year compared to the Sensex, which has gained 6.11% during the same period.
In terms of recent performance, Mangalam Industrial Finance has underperformed the sector by 2.86% today and is trading close to its 52-week low, just 2% away from Rs 1.47. The stock has been on a downward trend, falling for the last two days and showing a total decline of 3.85% in that timeframe. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent bearish trend.

The significant selling pressure may be attributed to various factors, including market sentiment and broader economic conditions affecting the non-banking financial company (NBFC) sector.