5th month adrift: Mkt currents pull ADR below 1, charting course of unease

Fifth month adrift: ADR remains anchored in negative waters as Sensex and Nifty sail near a 15% gain

The advance/decline ratio (ADR) — a gauge of market breadth — has remained negative (below 1) for a second consecutive month. In other words, the number of stocks declining is outpacing those rising, as a brutal selloff by overseas investors and lofty valuations weigh on sentiment.

According to BSE data, the ADR for October stands at 0.98 for the second month in a row. This marks the fifth month this year that the gauge has fallen below 1, even as the benchmark S&P BSE Sensex and the National Stock Exchange Nifty have risen close to 15 per