Mega Corporation Ltd Faces Significant Selling Pressure, Stock Declines 5% Amid Ongoing Losses

Mega Corporation Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company, classified as a microcap in the Non-Banking Financial Company (NBFC) sector, has experienced consecutive losses over the past two days, resulting in a total decline of 6.08%. In terms of performance, Mega Corporation's stock has dropped by 5.00% today, starkly contrasting with the Sensex, which has only decreased by 0.21%. Over the past week, the stock has fallen by 2.37%, while the Sensex has seen a minimal decline of 0.12%. The longer-term view reveals a troubling trend, with the stock down 10.51% over the past month compared to a 1.04% gain in the Sensex. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the broader finance/NBFC sector has also faced challenges, with a decline of 2.6%. These factors collectively contribute to the ongoing selling pressure on Mega Corporation Ltd.