Fri, Mar 1, 2024 1:28 PM
ICICI Bank hits 52-week high as it raises stake in ICICI Lombard
A Flip by Riya Sharma
Nifty opened on a positive note and continued its bullish momentum, but the index saw profit booking in the last hour. Finally, the index settled the day on a positive note at 23,519 levels. The volatility index India Vix surged by 3.26% to 15.66, indicating a rise in market volatility. Technically, index on a daily scale has formed a doji candle, indicating uncertainty.
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Foreign institutional investors (FIIs) have increased their long positions in stock futures to nearly 60 percent, signalling a potential market turnaround after the recent sell-off. The NSE Nifty 50 ended its seven-day losing streak on November 19, 2024, closing at 23,518.5, up 0.28 percent. Analysts say 23,500 is a crucial level to hold for the index to build on the recovery.
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Typically, the best cure for high prices is simply higher prices, a lesson gold is learning the hard way. Since the prospect of a second Donald Trump presidency became a reality, the shiny pet rock has been hit by a double whammy. A decline of $220 per troy ounce, or 8%, since the end of October may seem minor in the context of it still being up more than 25% this year.
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