 "Advance-decline ratio improves in Sept despite FPI pullout, shows data")
More stocks advanced than declined in September despite pullback from foreign portfolio investors (FPIs). The stock prices for 2,180 stocks traded on the BSE were higher at the end of September vis-a-vis their August close.
Meanwhile, 1,953 stocks ended with losses amid concerns around rising US bond yields and surging global oil prices. The advance-decline ratio (ADR) for the month stood at 1.12, most since April. This was also the sixth straight month when the ADR has remained more than 1, indicating positive market breadth.
Despite the S&P BSE 500 Index dipping nearly a per cent in August, the ADR was at 1.11 amid a strong rally in midcap and smallcap stocks. Favourable liquidity from domestic as well as foreign investors has propelled gains in most stocks in the broader market this year.
Despite the S&P BSE 500 Index dipping nearly a per cent in August, the ADR was at 1.11 amid a strong rally in midcap and smallcap stocks. Favourable liquidity from domestic as well as foreign investors has propelled gains in most stocks in the broader market this year.
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