Home / Markets / News / Half of top 500 stocks trading below their 200-DMA, shows data

Half of top 500 stocks trading below their 200-DMA, shows data

Analysts said that half of the BSE 500 firms trading below 200-DMA clearly indicates that market sentiment isn't strong and there is heightened selling pressure in the broader markets

Markets, stocks, buy, sell, trading, shares, stock market

Premium

Moreover, domestic markets are not immune to global turmoil despite the Indian economy doing better than many of its global peers in a year of global economic distress

Sundar Sethuraman Mumbai

2 min read Last Updated : Oct 12 2022 | 9:13 PM IST

The benchmark Nifty50 managed to reclaim its 200-day moving average (DMA) on Wednesday but about half of top 500 stocks continue to languish below this key technical indicator. The 200-DMA — nearly a year’s average of closing prices — is analysed by traders to understand the market sentiment. A fall below these levels indicates a weak trend. As many as 117 of the top 500 stocks are trading more than ten per cent below their 200-DMAs, data shows.

Among individual stocks, Tanla Platforms, Mastek, and Medplus Health Services are trading more than 30 per cent below their 200-DMA. Meanwhile, stocks

Topics : stock markets stocks BSE 500 stocks Stock traders stock market trading BSE 500 benchmark indices Nifty50 BSE Indian stock market US Dollar

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in