Soma Textiles & Industries Ltd Hits New 52-Week High, Surges 4.99% Amid Strong Buying Pressure

Soma Textiles & Industries Ltd is currently witnessing significant buying activity, with the stock gaining 4.99% today, outperforming the Sensex, which rose by only 0.25%. Over the past week, Soma Textiles has surged by 27.60%, while the Sensex managed a mere 0.47% increase. The stock's performance over the last month is particularly noteworthy, with a remarkable 97.20% rise compared to the Sensex's 4.48%.
The stock has been on a strong upward trajectory, recording consecutive gains for the last nine days, accumulating a total return of 54.34% during this period. Today, it opened with a gap up of 4.75% and reached an intraday high of Rs 141.73, marking a new 52-week high. Soma Textiles is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a robust bullish trend.

Factors contributing to this buying pressure may include positive market sentiment in the garments and apparel sector, alongside the company's strong historical performance, which has seen a staggering 215.59% increase over the past year and an impressive 4399.37% rise over the last five years.