Historically, the rupee strengthens by March 31 due to RBI intervention, benefiting corporate balance sheets. However, this year, elevated oil prices and geopolitical tensions have led to significant RBI dollar sales, potentially challenging this trend. Traders anticipate a close around 91.75-92.50 per dollar, with a weaker outcome if interventions decrease amid sustained high oil prices.
Negative Breakout: These 10 stocks cross below their 200 DMAs
In the Nifty500 pack, 10 stocks’ fallen over 4% and their closing prices crossed below their 200 DMA (Daily Moving Averages) on March 19, according