The week before the previous week had seen Nifty bouncing off from the 20-week MA which stands at 16,854. It had halted its move near the 50-week MA. This week, it moved above that level as well. The 50-week MA positions itself at 17,084.
Investor optimism for a deal to reopen the Strait of Hormuz is boosting markets. Hopes of peace have lowered oil prices and eased pressure on
The government’s offer to sell its stake in Central Bank of India saw strong investor interest. The two-day issue closed on Monday with an overall
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