Som Distilleries Faces Significant Volatility Amid Broader Sector Challenges

Som Distilleries & Breweries has experienced significant volatility today, opening with a notable loss of 18.51%. The stock has underperformed its sector, falling by 8.10% compared to the Sensex's decline of 3.60%. Over the past two days, the stock has seen a consecutive decline, totaling 11.84%.
Intraday, Som Distilleries reached a low of Rs 101.05, reflecting the broader challenges faced by the Breweries & Distilleries sector, which has dropped by 3.95%. In terms of moving averages, the stock is currently positioned above the 100-day and 200-day averages but below the 5-day, 20-day, and 50-day averages, indicating mixed short-term performance.

Technical indicators present a complex picture; while the MACD shows bullish signals on a weekly basis, it is mildly bearish on a monthly scale. The Bollinger Bands also indicate bullish trends weekly and monthly. With a beta of 1.35, Som Distilleries is classified as a high beta stock, suggesting it tends to exhibit greater volatility compared to the market. Overall, the stock's recent performance reflects ongoing challenges within the industry.