The advance-decline ratio (ADR) a barometer for overall market sentiment -dropped to its lowest since February 2023 amid a rout in the smallcap space.
ADR stood at 0.83, with losers exceeding gainers by nearly 400 on the BSE. In March 2024, the Nifty Smallcap 100 had come off by as much as 13 per cent following valuation concerns raised by the regulator. Meanwhile, the Nifty Midcap 100 index fell as much as 6 per cent and the Nifty 50 index fell less than 3 per cent. All the three indices recouped their losses, with the Nifty finishing the month with 1.6 per cent gain. The Nifty Midcap 100 and the Nifty Smallcap 100 dropped 0.54 per cent and 4.4 per cent, respectively.
This was the second straight month when losing stocks outnumbered gainers. In February 2024, small and midcap indices had ended with marginal losses. Declining stocks had outnumbered the advancing ones by only 89 last month. Between April 2023 and January 2024, advancing stocks had outnumbered declining stocks for 10 straight months by an average of 272.
Bu hikaye Business Standard dergisinin March 30, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin March 30, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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