BSE 500 Stocks Are Down 28% from Their 52-Week Highs - Chart Of The Day 7 June 2018 - Equitymaster

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BSE 500 Stocks Are Down 28% from Their 52-Week Highs
Jun 7, 2018

I wanted to find out the extent of the market correction in the broader markets. I was convinced that the Sensex wasn't offering a true picture.

I looked for a sample set that was more representative of the overall markets and picked the constituents of the BSE 500 index.

I pulled out some data and evaluated how much each stock of the BSE 500 index had corrected from its respective 52-week high. This I believed would offer a better view of where the markets were standing right now.

Here's what I found...

The average (i.e. mean) correction of the BSE 500 index stocks has been 28% from their respective 52-week highs.

I also found the median correction to be 26%.

I arranged the 500 companies based on the extent of their correction from their respective 52-week highs. And I came across some insightful revelations...

  • Of all the BSE 500 companies, not a single company was at its 52-week high.
  • More than 20% of the BSE 500 stocks had corrected in excess of 40%.
  • 45% of the companies had corrected between 21% to 40%.
  • Just 66 companies had shown relative resilience and had corrected 10% or less.

All of them, clear signs of a market correction...

Data Source: Ace Equity
*Calculation level calculated as difference between stock price as on 5 June 2018 and the respective 52-week high.

This Chart Of The Day was published in The 5 Minute WrapUp - The 30% Stock Market Crash Is Almost Here...

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