Nifty traded in a tight range of 111 points to end below the 15,700 level. It formed a small bearish candle on the daily chart with a long lower wick, indicating buying at lower levels. Analysts said the index was showing lack of strength at higher levels with some indicators sending overbought signals. Will the Nifty gain strength this week and move towards the 15,800-15,900 zone?
Indian exports fell by 7.2 per cent in value terms in FY21, as the world wrestled with the COVID pandemic which had a severe impact to consumption because of the lockdowns and consequently to global trade. The exports had surged by more than 60 per cent in March to USD 34.45 billion as against USD 21.49 billion in the year-ago period.
RBI will also purchase Rs 40,000 crore of government securities, comprising state development loans worth Rs 10,000 crore under the ongoing G-SAP 1.0 via an auction on June 17
The central bank said it would also purchase bonds worth Rs 40,000 crore, including state development loans worth Rs 10,000 crore, under the ongoing GSAP 1.0 through an auction on June 17.