Nifty breaches 200-week moving average at 22,600 since COVID-19 crash
Business
Nifty just dipped below its 200-week moving average of 22,600 for the first time since the COVID-19 crash.
This has traders a bit uneasy, as staying under this level could mean more losses ahead.
The index closed at 22,716, so everyone's watching to see if it can bounce back above that key mark soon.
High Brent, weak rupee, foreign outflows
A mix of high crude oil prices, a weaker rupee near two-month lows, and foreign investors pulling out are making things tough.
Brent crude had risen toward $108 a barrel before easing to around $105, and India's bond yields are up too.
With Nifty logging its longest losing streak since 2020 and smaller stocks also taking hits, the next few sessions will be important for anyone tracking the market's mood.