The Indian stock market is extending sharp losses for the fifth consecutive week, with one of the most notable trends being weakness in the largecaps despite their attractive valuations. Analysts feel Dalal Street is moving closer towards a trend reversal, noting that the setup is ripe for largecap bulls to take charge.
Nifty 50, which comprises 50 largecap stocks, has lost 936 points (around 4%) since the downtrend began in the second week of August. Overall the index has fallen nearly 2% in September so far. In the meantime, the Nifty Midcap 100 index has fallen less than 1% while the Nifty Smallcap 100 index gained over 1.3% since the second week of August.
