Half of BSE 500 stocks below their 200-DMA after recent sharp sell-off

Sequent Scientific and Bank of Maharashtra are among the stocks that are trading more than 30 per cent discount to their 200-DMA

Nearly half of the BSE 500 components have slipped below their 200-day moving average (DMA) following the recent sell-off. Moreover, a fifth of the top 500 stocks are currently trading more than 10 per cent below their 200-DMA, signaling a weak trend in the market.
 
The Sensex and the BSE 500 indices have declined over 6 per cent from the peaks touched last month. The correction has been steeper in the broader market with the BSE MidCap and the SmallCap indices declining 8.8 per cent and 11 per cent from their peaks, respectively.
 
The 200-DMA, nearly a year’s