The Nifty ended sharply lower amid escalating US-Iran tensions, rupee weakness and heavy selling in financial stocks, slipping below the 50-day EMA and signalling renewed weakness. Analysts expect further downside if the index remains below 24,200, while Coforge and NBCC (India) are seen as attractive short-term trading opportunities.
2 passive funds to open for subscription this week
Two new passive mutual funds are launching this week to expand fund houses’ offerings. DSP Nifty FMCG ETF opens May 12-14 with a Rs 5,000