More than half of Nifty 500 stocks now in downtrend
Of the 492 stocks on the NSE 500 stocks with 200 DMA data available, 268 are now trading below it. Last week’s sell-off has had a bigger impact on the market trend than the weakness in the whole of October when less than 5% of the NSE 500 stocks traded below the 200-DMAs.
Nifty’s 200-DMA key level to watch, determine trend: Analysts
Nifty is trading around the 200-day exponential moving average (23,691), which is likely to provide some relief after a 4.7% correction last week. Positive global cues should act as a supporting factor.
A Nifty bounce after gap-down may happen this time too
A gap-down happens when a stock opens at a much lower price than where it closed the day before, leaving a ‘gap’ on the price chart that’s considered a sign of investor panic. The Sensex and Nifty fell 1.5% the next day.
RBI denies banks extra time to label dodgy borrowers as willful defaulters
RBI has shortened the timeframe for classifying wilful defaulters. Banks now have six months to complete the process. This decision aims to prevent asset value decline. The process involves internal committees and hearings with borrowers. Borrowers deliberately delaying proceedings prompted the RBI’s action. This move protects lenders and maintains financial stability.
Real GDP growth seen lower than RBI estimates in Oct-Mar
Economists predict slower real GDP growth in the second half of FY25, ranging from 6.4% to 6.6%, compared to RBI’s 7% projection. High-frequency data reveals mixed indicators for consumption and investment sectors. Weaker exports, consumption spending, and construction activity contribute to the lowered growth forecast, despite increased government and agricultural spending.