Southern Magnesium & Chemicals Faces Intense Selling Pressure Amid Consecutive Losses

Southern Magnesium & Chemicals Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced consecutive losses over the past eight days, resulting in a total decline of 13.65% during this period. Today, the stock is down by 1.97%, while the benchmark Sensex has gained 0.43%, highlighting a stark underperformance.
In the past week, Southern Magnesium & Chemicals has dropped 9.54%, contrasting sharply with the Sensex's 1.44% increase. Over the last month, the stock has managed a slight gain of 0.64%, but this is overshadowed by the Sensex's robust performance of 3.89%. Year-to-date, the stock has plummeted by 48.39%, while the Sensex has risen by 5.64%.

The stock opened at 134.7 and has remained at this price, indicating a lack of trading range. Additionally, Southern Magnesium is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, further emphasizing the downward trend. The broader sector, Metal - Non Ferrous, has seen a gain of 3.04%, contrasting with the struggles faced by Southern Magnesium & Chemicals.