The key takeaway from Friday’s session was that Bank Nifty closed above its 20-day EMA for the first time in the last 39 trading sessions. Bank Nifty also managed to close above 23.6 per cent Fibonacci retracement level of its prior downward move (32,613.10-16,116.25) decisively.

Domestic benchmark indices have ended the week on a positive note today as Sensex zoomed by 3.22 per cent which is 986.11 points to be at the level of 31,588.72 while, Nifty went up by 3.05 per cent which is 273.95 points to the level of 9,266.75.

Indian private banking company, Kotak Mahindra Bank, announced the launch of ‘ATM on wheels’ facility in and around Mumbai amid the nationwide lockdown caused due to the rapid spread of Coronavirus.

The stock of Torrent Pharmaceuticals Limited has formed a bearish engulfing candlestick pattern on the weekly timeframe. This pattern is considered to be a bearish reversal pattern and usually occurs at the top of an uptrend.

The sectoral indices represented by Nifty Pharma, Nifty Auto and Nifty Metal reported double digit weekly gains in the range of 15 per cent to 11 per cent.

Indian multinational car manufacturing corporation, Mahindra & Mahindra, announced today that it is planning to raise Rs 1,000 crore through the allotment of non-convertible debentures.

On Friday, Zydus Cadila announced that it has received a final approval from United States Food & Drug Administration to market Erlotinib tablets (US RLD: Tarceva tablets), in the strengths of 25 mg, 100 mg and 150 mg.

Every coin has a flip side and mutual funds are no different. Fund managers not only buy but also sell. It becomes equally important to know what they are selling. So, let’s find out.

India’s gold consumption in the current year could fall to nearly 50 per cent from its previous year’s level. This could be the lowest level in nearly three decades. 

The market opened in the green on April 17, 2020. The previous trading session witnessed the Sensex going up by 222.80 points to end at 30,602.61 and the Nifty was up 67.50 points to close at 8,992.80.