Sensex Opens on Negative Note, Market Sentiment Driven by Advance-Decline Ratio
The stock market opened on a negative note today, with the Sensex trading at 81,074.93, down by 109.00 points or 0.13%. The market sentiment is being driven by the advance decline ratio across BSE500, which currently stands at 88 advances and 409 declines, indicating a bearish trend. The BSE100, MIDCAP, and SMLCAP caps are also facing losses, while some bright spots include Alembic Pharma, Minda Corp, and JM Financial as top gainers. The Sensex is currently trading above its 50 Day Moving Average, with only 6 out of 38 sectors advancing. Investors are advised to closely monitor the market and make informed decisions, as there is still potential for growth despite the current bearish trend.
The stock market opened on a negative note today, with the Sensex trading at 81,074.93, down by 109.00 points or 0.13%. The market sentiment is being driven by the advance decline ratio across BSE500, which currently stands at 88 advances and 409 declines, with a ratio of 0.22x. This indicates a bearish trend in the market.
The BSE100, MIDCAP, and SMLCAP caps are also facing losses, with a fall of 0.25%, 0.64%, and 0.85% respectively. However, there are some bright spots in the market, with the BSE500 top gainers being Alembic Pharma, Minda Corp, and JM Financial, with gains of 3.48%, 2.36%, and 2.29% respectively.
On the other hand, the top losers in the BSE500 index are Jupiter Wagons, Godfrey Phillips, and Granules India, with losses of 4.83%, 4.03%, and 3.66% respectively. The Sensex is currently trading above its 50 Day Moving Average (DMA), with the 50 DMA trading above the 200 DMA, indicating a positive trend in the market.
In terms of sectors, out of the 38 sectors, only 6 are advancing while 32 are declining. The top losing sector is METAL, with a decline of 1.19%, while the top gaining sector is BSEFMC, with a gain of 0.24%. The large caps are trading flat today, with HDFC Life Insurance being the top gainer in this category, with a gain of 1.09%. In the mid cap category, New India Assurance is the top gainer with a gain of 1.98%, while Deep Industries is the top gainer in the small cap category, with a gain of 12.45%.
Investors are advised to keep a close eye on the market trends and make informed decisions while trading. With the Sensex trading 2.04% away from its 52-week high of 82,725.28, there is still room for growth in the market. However, caution is advised as the market is currently facing a bearish trend.
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