Tue, Feb 13, 2024 12:45 PM
Market Momentum: Percentage of stocks trading above 20-day average records
A Flip by Avya Verma
The Nifty recovered from its lows on Tuesday, gaining 370 points or 1.55% to close above 24,200, led by a sharp rebound in the Nifty Bank, which gained 1,341 points or 2.64%. The indices rallied on short-covering and oversold setups on the charts, with nearly every sectoral index, except FMCG and Media, participating in the recovery.
Open Flip
The US markets are on edge as election uncertainty pushes Bitcoin below $69,000. The numbers tell an interesting story. Bitcoin ETFs just saw their second-largest daily outflow ever - right before Election Day. Seems like big investors aren't too keen on taking chances with their digital gold right now. Speaking of chances, the race between Trump and Harris couldn't be closer.
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Archer-Daniels-Midland Company shares drop after reporting lower-than-expected third-quarter earnings of $1.09 per share, missing the street view of $1.25, and announcing restatements of previously filed financial reports. The company also lowered its 2024 adjusted EPS guidance to $4.50-$5.00 from $5.25-$6.25.
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