Sensex shows mixed performance, small caps lead, 50 DMA above 200 DMA

Feb 26 2024 03:00 PM IST
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The Sensex opened lower and continued to decline, but is still trading above its 50-day moving average, indicating a potential upward trend. Small cap stocks are leading the market today, while mid and large caps are mostly declining. The advance-decline ratio is at 0.81x, with small caps being the only ones showing a positive trend. Upcoming results and individual stock performances are also being closely watched by investors.

The stock market saw a mixed performance today, with 15 sectors advancing and 25 sectors declining. The top gaining sector was S&P BSE Utilities, with a 1.58% increase, while the top losing sector was TECK with a 1.25% decrease. The Sensex opened lower at -97.99 points and continued to fall by -257.44 points to 72,787.37, a decrease of 0.49%. However, it is still 0.88% away from its 52-week high of 73,427.59.

Despite the overall decline, the market is showing some positive signs. The Sensex is currently trading above its 50-day moving average (DMA), with the 50 DMA also trading above the 200 DMA. This indicates a potential upward trend in the market. Small cap stocks are leading the market today, with BSE Small Cap gaining 0.02%.

The advance-decline ratio across BSE500 is at 0.81x, with 224 advances and 276 declines. Among the different market caps, small caps are the only ones showing a positive trend, while mid caps are trading flat and large caps are mostly declining. The top gainers in the BSE500 index include Adani Energy Solutions, PB Fintech, and 360 ONE, with gains of 8.90%, 7.75%, and 6.35%, respectively. On the other hand, Rain Industries, Alkem Laboratories, and Usha Martin are the top losers, with declines of -6.93%, -6.57%, and -4.87%, respectively.

Investors are also keeping an eye on upcoming results, with KSB's results scheduled to be announced on 28th February 2024. In terms of individual stocks, Bharat Forge is the top gainer in the large cap category, while PB Fintech is the top gainer in the mid cap category. Pilani Investment is the top gainer in the small cap category. On the other hand, Asian Paints, Alkem Laboratories, and Rain Industries are the top losers in their respective categories.

Overall, the market is showing a mixed performance today, with some sectors and stocks performing well while others are facing declines. Investors will continue to monitor the market closely for any potential shifts in the coming days.

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