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
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