INSUBCONTINENT EXCLUSIVE:
NEW DELHI: An advance-decline which has largely been skewed towards the latter over the past few days and an easing of India VIX from recent
highs suggest the market has become oversold position and that it may have found a bottom.
NSE benchmark Nifty50 has had its second-worst
quarter ever during the January-March period, recording a 23 per cent fall.
India VIX, the fear gauge, hit a multi-year high of 86 level
9,100 mark, after having rallied 12.72 per cent to post its biggest weekly gain since May 2009
The 30-share Sensex ended a seven-week losing streak and closed 4.23 per cent, or 1,265 points, higher at 31,159.
The sharp drop in VIX --
Senior Technical Analyst at YES Securities.
Sameet Chavan of Angel Broking said higher volatility in the recent past kept market
participants on their toes
record high level of 92 in 2008.
Meanwhile, the net of Nifty500 advance-decline ratio has hit a multi-year low of -497 level, something that
has been seen only thrice in last two decades.
The advance-decline ratio is an indicator that shows market breadth
It is based on net advances, where the number of declining stocks is subtracted from the number of advancing stocks to reflect the health of
the broader market.
In the last four major corrections in 2015, 2010, 2008 and 2006 -- each measuring at least 30 per cent fall from
to utilise the ongoing selloff to construct long-term portfolio of quality stocks in a staggered manner with at least one-year time
horizon.
The Nifty500 universe covers 90 per cent of the free float market capitalisation on NSE and this is used to measure the extent of
