Half of BSE 500, Sensex stocks are once again trading above 200-DMA

Mid-cap information technology (IT) stocks dominate the list of companies that are trading significantly above their 200-DMA

Half of Sensex and BSE 500 stocks are once again trading above their 200-day moving average (DMA) following last month’s broad-based rally in the market. This is a sharp reversal of trend compared to March, when three-fourths of the BSE 500 stocks had dipped below their long-term averages.

In April, the benchmark Sensex rallied 6.7 per cent, while the BSE Midcap, BSE Smallcap and BSE 500 indices surged 6.6 per cent, 8.3 per cent and 6.5 per cent, respectively. Experts say the rebound was triggered by a better-than-expected start to the March quarter earnings season, easing of geopolitical concerns and