Business

Over 74% of Stocks Decline in a Negative Market Environment

Market breadth is extremely negative on Monday as more than 74 per cent of stocks are declining, while only 22 per cent are advancing. The Sensex is down over 500 points, indicating a significant fall in the broader markets.

The BSE IPO index is down sharply by 1.77 per cent, while the financial services index, IT index, and Services index are all down by 1.2 per cent, 1.3 per cent, and 1.6 per cent respectively. Selling pressure is also seen in mid-caps with the BSE Small Cap Select Index down by 1.2 per cent.

Top losers on Monday include IFCI, NBCC, Castrol, and Hindustan Zinc, all witnessing a decline of more than 4 percent. Among Sensex stocks, Tech Mahindra is down by 2 percent, and ICICI Bank is down almost 2 percent, with IT and financials trading weak.

The market scenario reflects a bearish trend with a significant number of stocks witnessing a decline. Investors are advised to exercise caution and carefully monitor their investments in the current volatile market conditions.

IANS

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