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Stock market update: Nifty IT index advances 1.75%

Updated at : 2023-07-13 17:25:01

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The Nifty IT index closed 1.75 per cent up at 29628.2.

The retail portion of the IPO was subscribed 26.6 times, while that of NIIs was subscribed 16.58 times. The subscription for the QIB category, which was muted on Day 1, stood at 1.45 times on Day 2.

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The Relative Strength Index (RSI) is a technical indicator that measures recent price changes in a stock, helping investors analyze stock movements to make informed investment decisions. A reading above 70 indicates overbought conditions, and below 30 suggests oversold conditions.

The list includes two Tata group companies along with new-age stock PB Fintech

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After Tata Consultancy Services (TCS) reported a higher-than-estimated June quarter profit on Wednesday.

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The previous 1,000-point milestone from 64,000 to 65,000 was achieved in just 3 trading sessions. The two peaks of 63,000 and 64,000 had taken 278 days and 144 days, respectively.

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The Nifty Realty index closed 1.02 per cent up at 533.6.

The market breadth was skewed in the favour of the bears. About 2,116 stocks declined, 1,333 gained, and 139 remained unchanged on the BSE.

The net interest income (NII) for the first quarter rose nearly 20% to Rs 1,919 crore. It was Rs 1,605 crore in the same period last year.

RIL has fixed July 20 as the record date for the share allotment of the demerged entity Reliance Strategic Investments Ltd to its shareholders. Under the demerger, shareholders of RIL will get one share of Reliance Strategic Investments for every share held in the conglomerate.

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