About 59 of the NSE500 stocks are currently trading 20% above their 200 DMA. Heavyweights such as ITC, Adani Enterprises, Mahindra & Mahindra, HUL, ICICI Bank, Maruti Suzuki, Bajaj Auto, and Bajaj Finance, Asian Paints, Coal India, among others, are trading 10% above their respective 200 DMAs. Among the Nifty 50 stocks, 70% are trading above 200 DMA.
Largecaps showing no fundamental change despite market bounce: Nischal Maheshwari
Investors are closely watching sectors like banking, manufacturing, auto distribution, and aviation after a recent rate cut. Analysts see temporary margin pressure for banks and