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Market Movers: Antony Waste makes premium debut, midcaps shine; 524 stocks hit upper circuit
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On the back of relentless buying, as many as 91 stocks turned ‘overbought’ as they crossed above the 70-mark on the RSI indicator.
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The striking feature of Friday’s trade was positive market breadth, as gainers were more than double the numbers of losers.
MUMBAI: The year 2021 started on a positive note for the domestic equity market, with benchmark indices scaling fresh all-time highs amid a strong momentum in select index heavyweights.
Meanwhile, Nifty ended above the psychologically-important 14,000-mark for the first time, but the trading range of 58 points was extremely narrow for the day. A decent bullish candle on the weekly charts has a range of 238 points which analysts said was a cause for concern.
Market Movers: Financials lead, midcaps underperform; 69 stocks turn overbought
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The market breadth was neutral, and trade was lackluster compared to Monday, when gainers were more than double the number of losers on the BSE.
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Undergarments manufacturer Rupa & Company surged 20 per cent to Rs 311.70 after Abakkus Emerging Opportunities Fund-1 bought 1.50 per cent stake in the company through a bulk deal on Monday.
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MUMBAI: Financials led benchmark equity indices higher for the fifth day in a row to log new all-time highs on Tuesday, in a session that saw Nifty forming an indecisive Doji on the daily chart.
MFs make fresh buys into 6 gold ETFs and 4 stocks, exit 29 scrips in November
The asset management companies also made fresh entry into four stocks Gland Pharma, Kirloskar Industries, Marksans Pharma and Shreno in November. Sunil Shankar Matkar December 17, 2020 / 10:05 AM IST
Equity mutual funds witnessed the highest ever monthly outflow in November at Rs 12,971 crore, the fifth straight month of withdrawals. The total outflow in the last five months stands at Rs 22,910 crore as investors booked profits with the market at record highs. The strong performance of the equity markets in November seems to have encouraged more investors to book profits and move to short-term investments. We still believe that there is a significant amount of money that can come back to the market in the event of any correction. The medium to long-term potential of the equity markets remains strong, G Pradeepkumar, CEO at Union AMC told Moneycontrol.
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