Fri, Jul 5, 2024 4:44 PM
China regulator vows to clamp down harder on capital market fraud
A Flip by Shubhangi Gupta
The Nifty Bank closed 176 pts lower at 52,484, with 📌Kotak Mahindra Bank, 📌ICICI Bank, & others gaining, while 📌PNB, 📌IDFC First Bank, & others declined. Despite the decline, the index remains above the critical 52,000 level, with strong support at 52,000 & resistance around 52,800-53,000. A close above 52,500 could induce a sustained rally towards 53,000, according to technical analysts.
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Dolly Khanna has increased her stake in Selan Exploration Technology by 53 bps to 1.56% in the June 2024 quarter. The oil and gas exploration company has delivered 125% returns in the past year, outperforming Nifty's 26% returns. Khanna also acquired a 1.1% stake in Nile, a lead and lead alloy manufacturer, and a 1.03% stake in Tinna Rubber and Infra, a tyre recycling company, in the same quarter.
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Economist Alex Krüger predicts a potential surge in Bitcoin (BTC) prices due to five catalysts, including a soft landing, the Fed's cutting cycle, and FTX creditors' inflows of $14-16 billion in cash. Krüger believes BTC will consolidate around $50,000 before a potential bounce back to the 200-day moving average at $58,500. Despite current sell pressure, Krüger's outlook for the end of the year.
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