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After a five-week losing streak, the Nifty50 is trying to gain momentum as it reports two consecutive weekly positive closings. The Nifty 50 ended with a gain of 1.98%, and the broader markets continued their dream run with the Nifty Midcap 100 and Small Cap 100 gaining 4.75% and 4.64% respectively.
The Life Insurance stocks were in focus as IRDA publishes the sector’s monthly update. Private Life insurers continued to gain market share from LIC.
Media stocks were in focus in August and continue to remain so this month as well. A blockbuster Opening for SRK starrer Jawan and recent movies doing well – Media stocks particularly involved in the Movie Industry are expected to benefit from the same.
Scroll down to understand more of such market news and perspectives for the week gone by in easily understandable charts.
India’s Service PMI which has now been above 50 for 25th consecutive month fell in August’23, but export businesses grew.
HAVELLS broke out of its major resistance of 1400 levels on the daily chart with long buildup support. The stock, previously, failed to go past the 1400 levels since September 2022.
PETRONET has zoomed past its previous resistance of 235 zones along with rise in volumes and Long Buildup in Future Open Interest (OI) data.
COALINDIA has given a trendline breakout on the daily chart with a spike in volumes. Short covering at 240 Strike drove the further rally.
Visualizing the Size of Africa (Image Courtesy: Visual Capitalist)
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