Current Price and Market Context
As of 27 Feb 2026, Indiamart Intermesh Ltd’s share price closed at ₹2,182.60, down 0.46% from the previous close of ₹2,192.75. The stock traded within a range of ₹2,169.00 to ₹2,203.35 during the day, remaining well below its 52-week high of ₹2,772.00 but comfortably above the 52-week low of ₹1,850.00. The company operates within the E-Retail/E-Commerce sector, a space characterised by rapid innovation and intense competition.
Technical Trend Overview
Technical analysis reveals a shift in momentum. The overall technical trend has deteriorated from mildly bearish to bearish, reflecting increased selling pressure. The daily moving averages are firmly bearish, indicating that short-term price action is under pressure. This is corroborated by the Bollinger Bands, which show bearish signals on both weekly and monthly charts, suggesting that volatility is skewed towards downside risk.
MACD and Momentum Indicators
The Moving Average Convergence Divergence (MACD) indicator presents a nuanced picture. On a weekly basis, the MACD remains mildly bullish, hinting at some underlying positive momentum in the medium term. However, the monthly MACD has turned bearish, signalling that the longer-term trend is weakening. This divergence between weekly and monthly MACD readings suggests that while short-term rallies may occur, the broader trend remains under pressure.
RSI and Overbought/Oversold Conditions
The Relative Strength Index (RSI) on both weekly and monthly timeframes currently shows no clear signal, hovering in neutral territory. This indicates that the stock is neither overbought nor oversold, leaving room for further directional movement. The absence of RSI extremes suggests that momentum could swing either way, depending on upcoming market catalysts.
Additional Technical Signals
The Know Sure Thing (KST) indicator is bearish on a weekly basis but mildly bullish monthly, echoing the mixed signals seen in MACD. The Dow Theory assessment aligns with this, showing mildly bearish trends on both weekly and monthly charts. Meanwhile, the On-Balance Volume (OBV) indicator is mildly bearish across both timeframes, implying that volume trends are not supporting a strong upward price movement.
Comparative Performance Versus Sensex
When compared to the broader market benchmark, the Sensex, Indiamart Intermesh Ltd’s returns have been mixed. Over the past week, the stock outperformed the Sensex with a 1.06% gain versus the Sensex’s 0.30% decline. However, over the past month, the stock declined by 0.43% while the Sensex rose 0.87%. Year-to-date, Indiamart’s return stands at -1.86%, outperforming the Sensex’s -3.49% decline. Over the one-year horizon, the stock returned 9.13%, slightly underperforming the Sensex’s 10.25%. Longer-term returns over three and five years show significant underperformance, with the stock down 8.5% and 49.22% respectively, compared to Sensex gains of 38.32% and 67.51%. This underlines the challenges faced by the company in maintaining growth momentum relative to the broader market.
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Mojo Score and Analyst Ratings
Indiamart Intermesh Ltd currently holds a Mojo Score of 43.0, categorised as a Sell rating. This represents a downgrade from the previous Hold rating as of 24 Nov 2025. The Market Cap Grade stands at 3, reflecting a mid-tier market capitalisation relative to peers. The downgrade reflects the deteriorating technical outlook and subdued price momentum, signalling caution for investors considering fresh exposure.
Moving Averages and Price Momentum
The daily moving averages are bearish, with the stock price trading below key averages such as the 50-day and 200-day moving averages. This technical positioning suggests that the stock is in a downtrend in the short to medium term. The bearish moving averages are consistent with the Bollinger Bands’ signals, which indicate that price volatility is skewed towards downside risk. The lack of RSI extremes further implies that the stock could continue to experience downward pressure before any meaningful reversal.
Volume and Market Sentiment
The On-Balance Volume (OBV) indicator’s mildly bearish readings on weekly and monthly charts suggest that volume trends are not supporting a strong rally. This lack of volume confirmation often precedes further price weakness, as institutional investors may be reducing exposure. The mildly bearish Dow Theory signals reinforce this cautious sentiment, indicating that the broader market trend for the stock remains under pressure.
Outlook and Investor Considerations
Given the mixed technical signals, investors should approach Indiamart Intermesh Ltd with caution. While short-term weekly indicators such as MACD and KST show some mild bullishness, the dominant monthly and daily trends remain bearish. The stock’s recent underperformance relative to the Sensex over longer periods further emphasises the challenges ahead. Investors may want to monitor for a sustained break above key moving averages and a shift in volume trends before considering accumulation.
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Summary
Indiamart Intermesh Ltd’s technical parameters have shifted towards a more bearish stance, with daily moving averages and monthly MACD signalling downside risk. While weekly momentum indicators offer some mild bullish hints, the overall trend remains cautious. The stock’s recent price action and volume trends do not currently support a strong recovery, and the downgrade in Mojo Grade to Sell reflects this outlook. Investors should weigh these technical signals carefully against broader market conditions and sector dynamics before making investment decisions.
Long-Term Perspective
Over the longer term, Indiamart Intermesh Ltd has struggled to keep pace with the Sensex, with a five-year return of -49.22% compared to the Sensex’s 67.51% gain. This underperformance highlights structural challenges within the company or sector that may require fundamental improvements to reverse. Technical indicators suggest that until such improvements materialise, the stock may remain under pressure.
Final Thoughts
In conclusion, the technical momentum shift in Indiamart Intermesh Ltd warrants a cautious approach. The bearish signals from moving averages, Bollinger Bands, and monthly MACD outweigh the mild weekly bullishness. Investors should monitor for confirmation of trend reversals through improved volume and momentum indicators before considering new positions. Meanwhile, comparative analysis with other E-Retail/E-Commerce stocks may reveal more attractive opportunities.
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