Southern Magnesium & Chemicals Hits New 52-Week Low at Rs. 93.55
Southern Magnesium & Chemicals has reached a new 52-week low, reflecting ongoing challenges in the Minerals & Mining sector. The stock has declined for six consecutive days, resulting in a significant drop over the past year, contrasting sharply with broader market performance. It currently trades below multiple moving averages.
Southern Magnesium & Chemicals has reached a significant milestone by hitting a new 52-week low of Rs. 93.55 today, marking a notable decline in its stock performance. This microcap company, operating within the Minerals & Mining industry, has faced a challenging trading environment, underperforming its sector by 4.87% on the day. The stock has been on a downward trajectory, experiencing a consecutive six-day decline that has resulted in a total drop of 19.36% during this period. Today, it opened with a gap down of 3.45% and touched an intraday low of Rs. 93.55, reflecting ongoing market pressures.
In terms of moving averages, Southern Magnesium & Chemicals is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a sustained period of underperformance. Over the past year, the stock has seen a staggering decline of 72.42%, contrasting sharply with the Sensex, which has only fallen by 0.36% during the same timeframe. This performance highlights the company's struggles in a market that has otherwise shown resilience.
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