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Ishika Mookerjee, Bloomberg News A security guard uses an infrared thermometer to check the temperature of a man, wearing a protective mask, entering the Bombay Stock Exchange (BSE) in Mumbai, India, on Friday, March 27, 2020. The Reserve Bank of India (RBI) cut interest rates and announced steps to boost liquidity in a stimulus worth 3.2% of gross domestic product to counter the economic impact of the coronavirus outbreak. Photographer: Dhiraj Singh/Bloomberg , Bloomberg
(Bloomberg) Indiaâs stock benchmark fell, snapping a six-day climb, as investors assessed heady valuations and new virus cases ahead of the winter holidays.
The S&P BSE Sensex declined 0.3% to 46,800.58 as of 9:33 a.m. in Mumbai Monday, while the NSE Nifty 50 Index fell by a similar magnitude. Both indexes extended record highs with rises of almost 2% last week, marking their longest weekly winning streaks since April 2019.
Market Movers: Financials lead, Burger King tumbles; 96 stocks turn overbought
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On the back of relentless buying, as many as 96 stocks turned ‘overbought’ as they crossed above the 70-mark on the RSI indicator.
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Among stock-specific action, Burger King saw extreme swings in the day as it hit the upper circuit in the early trade, and tumbled by its daily limit in the afternoon.
MUMBAI: Financials drove benchmark equity indices to yet another record highs on Thursday, in a session which saw Nifty forming an indecisive candle again, implying that the level of 13,673-80 needs to be respected on Friday or else a halt in the ongoing rise may set in.