 "Illustration: Binay Sinha")
The advance-decline ratio (ADR) for stocks traded on the BSE went past 1 for the first time in three months in July. A total of 1,888 stocks advanced, while 1,662 declined last month. So far this month, 2,419 stocks have advanced and only 1,288 have declined.
ADR signals market breadth. An ADR of more than 1 indicates that more stocks have gained than those that have declined. The improvement in the ratio is a sign that the market rally is getting more broad-based as investor appetite to take riskier bets is once again on the rise.
Between October 2021 and
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