The hourly momentum indicator has also reached the equilibrium line indicating that the pullback has matured and can begin a new cycle on the downside, said Nagaraj Shetti of HDFC Securities.
Foreign institutional investors reversed course in early April, spurred by rising global trade tensions following US President Trump’s announcement of steep tariffs. This led to
Benchmark indices Sensex and Nifty 50 fell by 2.6% each due to a global sell-off triggered by U.S. tariff actions. IT stocks suffered the most,
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