Key Events This Week
16 Mar: Stock opens at Rs.2,079.80, declines 1.61%
18 Mar: Intraday high of Rs.2,183.10 with 5.22% surge
19 Mar: Sharp fall of 3.68% to Rs.2,045.50 amid Sensex drop
20 Mar: Recovery with 2.28% gain, closing at Rs.2,092.05
16 March 2026: Week Begins with a Decline Amid Broader Market Gains
Mphasis Ltd. opened the week at Rs.2,079.80, down 1.61% from the previous Friday’s close of Rs.2,113.80. This decline contrasted with the Sensex’s 0.47% gain to 33,673.11, signalling early weakness in the stock despite a positive market backdrop. The volume was relatively low at 1,920 shares, indicating subdued trading interest. The stock’s underperformance on this day set a cautious tone for the week ahead.
17 March 2026: Minor Losses Persist as Sensex Advances
The downward trend continued on 17 March with Mphasis slipping another 0.29% to Rs.2,073.80. This modest decline occurred despite the Sensex rising 0.79% to 33,940.18, reflecting a divergence between the stock and the broader market. Trading volume increased to 4,196 shares, suggesting some investor activity but no decisive buying momentum. The stock remained below key moving averages, maintaining a bearish technical posture.
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18 March 2026: Strong Intraday Rally Breaks Five-Day Losing Streak
On 18 March, Mphasis Ltd. staged a notable recovery, surging 2.40% to close at Rs.2,123.60. The stock opened with a significant gap up of 5.12%, reaching an intraday high of Rs.2,183.10, a 5.22% increase from the previous close. This rally outperformed the IT - Software sector’s 3.87% gain and the Sensex’s 1.15% rise to 34,329.13. The strong opening and sustained intraday momentum marked a reversal after five consecutive days of decline.
Despite this short-term strength, the stock remained below its 20-day, 50-day, 100-day, and 200-day moving averages, indicating that the broader downtrend was intact. Technical indicators such as the MACD and Bollinger Bands continued to signal bearish momentum on weekly and monthly charts, though the weekly RSI showed some bullishness. The stock’s high beta of 1.19 contributed to the pronounced price swings observed during the session.
This gap up and intraday surge reflected positive market sentiment and possibly short-term buying interest, but the overall technical outlook remained cautious. The Mojo Score of 38.0 and a Sell grade from MarketsMOJO, downgraded in early February, underscored the prevailing cautious stance on the stock.
19 March 2026: Sharp Decline Amid Market Sell-Off
The following day, Mphasis Ltd. reversed sharply, falling 3.68% to Rs.2,045.50 on volume of 2,924 shares. This decline coincided with a significant Sensex drop of 3.13% to 33,255.16, reflecting a broad market sell-off. The stock’s fall was more pronounced than the benchmark, indicating heightened volatility and sensitivity to market conditions. The retreat erased much of the previous day’s gains and reinforced the stock’s vulnerability within a bearish medium-term trend.
20 March 2026: Partial Recovery as Week Closes
On the final trading day of the week, Mphasis Ltd. rebounded 2.28% to close at Rs.2,092.05, recovering some ground after the prior day’s sell-off. The Sensex also gained 0.51% to 33,423.61, signalling a modest market bounce. The stock’s volume surged to 5,189 shares, the highest of the week, suggesting renewed investor interest. Despite this recovery, the stock ended the week down 1.03%, underperforming the Sensex’s 0.28% decline.
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| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-03-16 | Rs.2,079.80 | -1.61% | 33,673.11 | +0.47% |
| 2026-03-17 | Rs.2,073.80 | -0.29% | 33,940.18 | +0.79% |
| 2026-03-18 | Rs.2,123.60 | +2.40% | 34,329.13 | +1.15% |
| 2026-03-19 | Rs.2,045.50 | -3.68% | 33,255.16 | -3.13% |
| 2026-03-20 | Rs.2,092.05 | +2.28% | 33,423.61 | +0.51% |
Key Takeaways from the Week
Positive Signals: The intraday surge on 18 March demonstrated Mphasis Ltd.’s capacity for sharp rebounds, outperforming both its sector and the Sensex on that day. The weekly RSI indicator’s bullish signal suggests some short-term momentum, and the high trading volume on 20 March indicates renewed investor interest.
Cautionary Signals: Despite the midweek rally, the stock closed the week down 1.03%, underperforming the Sensex’s 0.28% decline. The stock remains below all major moving averages, with bearish MACD and Bollinger Bands on weekly and monthly charts. The Mojo Score of 38.0 and Sell rating reflect ongoing technical and fundamental concerns. The high beta of 1.19 implies elevated volatility, which may lead to further price swings.
Overall, the week’s price action highlights a stock in a corrective phase with intermittent short-term recoveries but lacking a sustained upward trend. Investors should note the mixed technical signals and the stock’s sensitivity to broader market movements.
Conclusion
Mphasis Ltd.’s week was characterised by volatility and mixed performance. The strong intraday rally on 18 March was a notable highlight, breaking a five-day losing streak and signalling short-term buying interest. However, the subsequent sharp decline and the stock’s inability to sustain gains resulted in a weekly loss of 1.03%, underperforming the Sensex. Technical indicators and the current Mojo Sell rating suggest caution, with the stock still facing resistance from longer-term moving averages and bearish momentum. The elevated beta further underscores the potential for continued price fluctuations. Investors should closely monitor upcoming sessions for confirmation of either a sustained recovery or further downside pressure.
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