Negative Breakout: 250 stocks out of BSE 500 closed below their 200-DMA on Monday

As stock markets turn risk-averse on the back on Omicron worries and faster tightening of interest rates by the US Fed, narrowing breadth in the market seems to lend more credence to the emerging negative sentiment across the board. While the Nifty 50 continues to trade 18.5% higher year-to-date, more than 50 percent of stocks in the BSE 500 index have breached their 200-Day Simple Moving Average, indicating a clear downward trend, a study by Moneycontrol shows. The interactive chart below will help you deep dive into how stocks slipped below their technical strong zone, sector-by-sector and company-by-company.

From the BSE 500 index, 438 stocks slipped below 20 DMA, 429 stocks had fell below 50 DMA and 360 stocks closed below 100 DMA - indicators of rising weakness and trend reversals.