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Street Signs: Nifty adrift in choppy waters, IFSCA nets ghost firms, more
Puneet Wadhwa Khushboo Tiwari New Delhi
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No wind in sails: Nifty adrift in choppy waters
The benchmark Nifty 50 index slipped 0.7 per cent to close at 24,968 last week, weighed down by a tepid start to the first-quarter results season. This marked the third straight weekly decline, pushing the 50-stock index just below its 20-day exponential moving average (25,250) — a sign of fading strength. 'Lack of follow-through buying and persistent selling pressure is weighing on sentiment,' said Chandan Taparia, head of derivatives and technicals for wealth management at Motilal Oswal Financial Services. He added that unless the Nifty reclaims 25,300, the near-term bias stays
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Nifty logs third straight weekly drop amid earnings jitters; IFSCA takes action against ghost firms in GIFT City; IPO pipeline swells ahead of July 31 deadline Puneet Wadhwa Khushboo Tiwari New Delhi Listen to This Article No wind in sails: Nifty adrift in choppy waters The benchmark Nifty 50 index slipped 0.7 per cent to close at 24,968 last week, weighed down by a tepid start to the first-quarter results season. This marked the third straight weekly decline, pushing the 50-stock index just below its 20-day exponential moving average (25,250) — a sign of fading strength. 'Lack of follow-through buying and persistent selling pressure is weighing on sentiment,' said Chandan Taparia, head of derivatives and technicals for wealth management at Motilal Oswal Financial Services. He added that unless the Nifty reclaims 25,300, the near-term bias stays
