More than 74 pc stocks decline in negative market breadth

Mumbai, April 15 (IANS) The market breadth is extremely negative on Monday with more than 74 per cent of the stocks declining.

Only 22 per cent of the stocks are advancing. As many as 2924 stocks are declining while only 886 are advancing.

While the Sensex is down more than 500 points, the extent of the fall in the broader markets is far more accentuated as the advance-decline ratio suggests.

While the benchmark Sensex is down 0.7 per cent, the BSE IPO index is down sharply by 1.77 per cent.

Similarly, the financial services index is down 1.2 per cent, the IT index is down 1.3 per cent, Services index is down 1.6 per cent.

There is selling pressure in the mid-caps stocks with the BSE Small Cap Select Index down 1.2 per cent.

Among the top losers on Monday, IFCI is down more than 6 per cent, NBCC is down more than 4 per cent, Castrol is down more than 4 per cent, and Hindustan Zinc is down 4 per cent.

Among the Sensex stocks, Tech Mahindra is down 2 per cent, and ICICI Bank is down almost 2 per cent. IT and financials are trading weak on Monday.