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In the Nifty500 pack, 11 stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on July 16, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
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Smartworks Coworking Spaces made a strong debut on the stock exchanges, listing at a premium of over 7% on Thursday. The IPO, which was subscribed nearly 14 times, saw significant interest from institutional and retail investors. Despite ongoing losses, the company's operating performance shows robust growth.
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The dollar experienced fragility amidst concerns that President Trump might dismiss Federal Reserve Chair Jerome Powell, impacting U.S. market confidence. Trump denied immediate plans but kept the option open, criticizing Powell's interest rate policies. Investors fear undermining the Fed's independence, potentially weakening the dollar.
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