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The Nifty50 and Sensex reached new all-time highs on Monday, driven by sustained capital inflow from foreign portfolio investors and positive economic outlook.
An RSI reading above 70 indicates that a stock is overbought, potentially due for a price correction, while a reading below 30 suggests that a stock is oversold and might experience a price rebound. RSI can be a valuable tool for investors to identify potential turning points in a stock's price trend.
Sectorally, buying was seen in banks, the public sector, energy, and oil & gas stocks while selling was seen in auto, realty, and telecom stocks.
The S&P 500 and the Dow edged up on Monday, as investors awaited quarterly results from industry heavyweights through the week, while Apple and Tesla boosted the tech-heavy Nasdaq. Second-quarter earnings are gathering momentum, with Tesla due to report on Wednesday, while Bank of America , Morgan Stanley, Goldman Sachs and Netflix are also lined up through the rest of the week
NORTHERN Ireland employers proposed cutting almost 2,000 jobs last month, official government data shows.