Tech and auto stocks saw a sharp decline, with Bajaj Auto, Bajaj Finserv, Eicher Motors, HCL Technologies, and Hero MotoCorp among the biggest losers.
Bajaj Auto closed at ₹7,333.30, down 4.95%. It is trading below all key moving averages, with an RSI of 19.03, indicating oversold conditions. The MACD suggests continued bearish momentum.
Bajaj Finserv fell 2.62% to ₹1,790.30. It is below its short-term EMAs but remains above its 50-day and 200-day EMAs. The RSI at 46.16 is neutral, though the MACD signals a bearish trend.
Eicher Motors declined 1.8%, closing at ₹4,815.10. While trading below its 50-day EMA, it remains above the 200-day EMA, suggesting potential support. The RSI at 42.79 indicates balanced market sentiment.
HCL Technologies dropped 2.35% to ₹1,535.50, trading below all major EMAs. The RSI at 21.43 signals an oversold condition, while the MACD remains negative, pointing to further weakness.
Hero MotoCorp lost 3.19%, closing at ₹3,514.85. It is trading below all key EMAs, with an RSI of 24.27, indicating oversold conditions. The MACD also suggests a bearish trend.
Overall, the market sentiment remains weak, though some stocks may see a potential reversal due to oversold conditions.