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Market move▼ Bearish for Indian equities
Nifty stares at 200-WMA after 6-year gap; what this means for the market?
The brief
- Nifty fell 1.4% to 22,807.55, nearing its 200-week moving average at 22,607
- The index last closed below this average more than six years ago
- A breach could weigh on Indian equities, especially Nifty constituents and equity-linked portfolios
- Indices continue to trade with significant losses; European shares trade in the green
- Markets sink to April lows at noon; crude surge, FII selling batter sentiment across sectors
- Nifty slips below 23,000 as bank stocks tumble
- Sensex, Nifty plunge over 1%; investors lose Rs 6 lakh crore as Brent crude crosses $107
- Nifty PSU Bank tanks 2%, stocks dip up to 4%; Analysts flag rate hike woes