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In the Nifty 200 pack, eight stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on June 24, 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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HDB Financial Services, backed by HDFC Bank, is launching its IPO on Wednesday, aiming to raise Rs 12,500 crore. The IPO, priced between Rs 700 and Rs 740, includes a fresh issue and an offer for sale by HDFC Bank. Brokerage houses recommend subscribing, citing strong financials, asset quality, and growth potential, with listing expected in early July.
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Asian stocks showed caution as the Israel-Iran truce held and Fed Chair Powell offered balanced rate cut views. Middle East tensions eased, and Powell's flexible tone boosted equities. While the Fed remains patient, lower inflation could prompt earlier rate cuts, with markets pricing in two cuts by the end of 2025. Trump's stance on Iranian oil also surprised markets.
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