Mangalam Industrial Finance Faces Intense Selling Pressure Amid Consecutive Losses
Mangalam Industrial Finance Ltd is experiencing significant selling pressure, marked by consecutive losses over three days and a notable decline in stock value. The company has reached a new 52-week low and is trading below key moving averages, reflecting ongoing challenges and underperformance compared to the broader market.
Mangalam Industrial Finance Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive losses over the past three days, with a total decline of 11.46%. Today, the stock fell by 4.52%, underperforming the Sensex, which gained 0.45%. Over the past week, Mangalam Industrial Finance has seen a steep decline of 14.65%, while the Sensex rose by 1.68%. The stock's performance over the past month is similarly concerning, with a drop of 23.18% compared to the Sensex's increase of 4.05%. Year-to-date, the stock has plummeted by 54.20%, contrasting sharply with the Sensex's slight decline of 0.65%.
Notably, Mangalam Industrial Finance has hit a new 52-week low of Rs. 1.69 today. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent downward trend. The substantial selling pressure may be attributed to various factors, including market sentiment and company-specific challenges, contributing to its underperformance relative to the broader market.
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