BSE shares slide for fifth straight session as broker downgrades raise valuation concerns

BSE Ltd. shares extended their losing streak to the fifth consecutive session on Tuesday as investor sentiment weakened following two broker downgrades within two days. Nuvama Institutional Equities downgraded the stock to ‘Hold’ from ‘Buy’ and lowered its target price to ₹3,240 from ₹4,090, citing concerns around trading volumes, the impact of the Closing Auction Session and the sustainability of BSE’s recent market-share gains. The downgrade came a day after Jefferies also turned cautious on the stock, cutting its rating to ‘Underperform’ and reducing the target price to ₹2,940 from ₹3,520. The continued selling has pushed BSE shares further below key technical levels, with momentum indicators pointing to weakness despite the stock nearing oversold territory. With valuation concerns and near-term business headwinds weighing on sentiment, investors may adopt a Hold/Wait-and-Watch strategy and look for signs of price stabilisation before considering fresh positions.