Precariously poised

Benchmark indices have declined nearly six per cent in March and are on course to clock their worst monthly performance since November 2011. The sharp correction has seen more than 40 per cent of the components in key indices, including the Sensex and BSE 100, fall below their 200-day moving average (DMA). The 200-DMA, a yearly trading average, is considered to be a key support and stocks going below this level signal that cracks might be building in the bull market. The benchmark Nifty and Sensex are only slightly above their 200-DMAs. Analysts believe a further decline in key indices could be negative for the market. If the Nifty falls another 200 points and closes below its 200-DMA of 8,140, the market could enter a painful consolidation phase, said analysts. A list of Sensex stocks that have corrected the most this month