Nifty futures on the NSE International Exchange traded 17.50 points, or 0.08 per cent, lower at 22,026, hinting at a negative start for the domestic market on Monday.
The brokerage has increased its weight and remains ‘overweight’ on Banks, Cap Goods and Healthcare, and diversified financials (led by HDFC AMC). It is ‘equal weight’ on IT and ‘underweight’ on Auto, Metals, Cement, Consumer and Oil & Gas.
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When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which it was traded throughout the day, with the average being weighted by trading volume.