While the benchmark Nifty and the Sensex survived the slight losses, there was pressure on the broad markets. The Nifty MicroP-2550 declined by 0.82 per cent and its loss reached 27 per cent from its highest level. The ratio of the market climbing and falling shares was weak and 2,852 shares were broken on BSE, while 1,235 increased. Meanwhile, 1,133 shares touched a 52 -week low.
The number of shares touching the lower level of 52 weeks from the last one week is increasing amidst acute selling in the market. Akshay Chinchakar, the research head of Axis Securities, said in a note, the ratio of climbing and falling shares for NSE-500 is now below down.
If we look at the percentage of shares above the average of 50, 100 and 200 days, it is 7.6 percent, 6.2 percent and 10.1 percent respectively. We will call them very little. These figures were 1.2 per cent, 4 per cent and 10.3 per cent respectively in the broken market due to Kovid.
The ratio of climbing and falling shares in February was 0.72 per cent, which is a five -year low. The Nifty Smallcap 100 and the Nifty Midcap 100 index have fallen 10.8 per cent and 13.1 per cent respectively, which is their worst monthly performance after March 2020.
He said, the historical pattern shows that the extreme of the ratio of climbing and falling shares is often seen before the lower level of the market, but investors should wait until the recovery is confirmed before taking the position.
First Published – March 3, 2025 | 10:42 pm IST
Related post