The benchmark S&P BSE Sensex and National Stock Exchange Nifty rallied close to 4 per cent in September; however, the advance/decline ratio (ADR) remains negative.
This indicates that the number of declining stocks has outpaced those advancing this month. The last time the ADR fell below 1 was in May, when the benchmark also ended in the red.
ADR, a popular market breadth indicator, shows that the broader market weakness is not fully captured in the major indices.
While the Nifty Midcap 100 has gained 1.85 per cent, the Nifty Smallcap 100 has declined by 0.3 per
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