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Viral News
NCGTC forensic audit of Bandhan Bank examining evergreening of loans
Paytm's Vijay Shekhar Sharma mulled 'resigning' from Paytm Payments Bank?
Stocks To Watch: Voltas, JSW Steel, ONGC, Tata Steel, Religare Enterprise, One97 Communication
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Paytm secures merchant support, guarantees uninterrupted services
Coal India, HAL, NHPC Q3 Results — Earnings Estimate
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💫 Market Metrics: Weekly Roundup
⭐ Sensex: 71,595.49 ⬇️
⭐ Nifty 50: 21,782.50 ⬇️
⭐ Nifty Bank: 45,634.55 ⬇️
⭐ Nifty Smallcap 100: 16,269.30 ⬇️
⭐ Nifty Midcap 100: 48,889.05 ⬆️
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✨ Market Performance Key Takeaways For The Week
🌟 Nifty had a quiet week, lacking a clear trend, and closed just below the 21,800 mark, down by 0.33%. Technical indicators remained stable, with the 20-day EMA providing support, but the market remained uncertain, oscillating within a narrow range.
🌟 Sector rotation continued to drive market movements, with key support at 21,680 and 21,500, and resistance at 21,900-22,000 and 22,100. A breakthrough in these levels could signal the next market direction. Traders are advised to monitor global developments for short-term trends and focus on individual stock performance for outperformance.
🌟 Similarly, Bank Nifty had a subdued week, closing lower by 336 points, or 0.7%. Despite expectations of volatility surrounding the RBI monetary policy, the index remained quiet for most of the week.
🌟 The index remains range-bound, offering buying opportunities on dips and selling opportunities on rallies. Immediate support for Bank Nifty is seen at 44,800-44,650, with resistance at 45,800-45,950 and 46,200-46,300.
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✨ News Highlights For The Week
🌟 The RBI's Monetary Policy Committee maintains the repo rate at 6.5% as retail inflation remains above the 4% target, with a 5:1 majority decision.
🌟 The RBI broke its silence on the ban of Paytm Payments Bank - Fintech industry need not worry. RBI governor Shaktikanta Das assured that the issue with Paytm doesn't affect the entire system, emphasising no current concern for the financial system, but urging individual entities to be mindful of long-term impacts.
🌟 Paytm is nearing approval from the Indian government to invest in its crucial payments gateway arm, a decision pending for two years. The government's stance shifted favourably after Paytm's Chinese shareholder, Ant Group Co., reduced its stake in the company.
🌟 Indian Oil-Adani Gas Pvt Ltd plans to invest ₹25 Bn ($301.24 Mn) over four years to double gas sales to small industries and households in India, according to a company executive.
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Disclaimer: https://bit.ly/3usSGoH
Sources: Angel One Research | The Hindu | Moneycontrol | ET
Date: February 09, 2024
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Check out this post… "क्या है डेट, इक्विटी और हाइब्रिड फंड? Mutual Funds में निवेश करने वालों के लिए बहुत जरूरी है ये जानकारी".
http://www.forthetrade.co.in/2024/02/mutual-funds.html
