Fri, Oct 4, 2024 11:23 AM
FIIs withdraw Rs 32k cr but India has Rs 2 lakh cr war chest to save Nifty
A Flip by Avya Verma
Taoping (TAOP) announced that on December 19, it received notification from The Nasdaq Stock Market confirming the company has been granted an additional 180 calendar day period for compliance under its minimum bid price requirement through June 16, 2025. To regain compliance with Nasdaq’s minimum bid price requirement set forth under Nasdaq Listing Rule 5810(c)(3)(A).
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After staying in the green following a sharp rebound the week before this one, the Indian market experienced a 4.77% weekly loss due to selling pressure, with the Nifty index violating key support levels and closing below the 200-DMA. The 50-week MA level of 23,530 is crucial for the market's trajectory, and a breach below it could lead to a prolonged intermediate downtrend.
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While Nifty ended with a weak-on-weak decline of 4.9% on Friday, it was laden with top action where over three dozen companies from large, mid and smallcap segments witnessed prominent block deals worth Rs 5,683 crore on screen, which included both buying and selling action. In the largecap segment, 15 companies witnessed significant block deals on the screen worth Rs 2,477 crore.
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