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The Golden Crossover is a technical signal generated when the short-term moving average (such as the 50-day simple moving average) crosses above the long-term moving average (such as the 200-day simple moving average). This event signifies a shift in investor sentiment, indicating a potential bullish trend reversal or the beginning of a new upward movement.

A total of 2,977 shares changed hands on the counter till 02:10PM (IST).

n Wednesday, ahead of the market opening time, HDFC Bank announced that its advances have aggregated to approximately Rs 16,15,500 crore as of June 30, 2023, rising 15.8% YoY over Rs 1,395,100 crore reported in the corresponding quarter of FY23 and around 0.9% over Rs 16,00,600 crore reported for the three months ended March 31, 2023.

The Kolkata-based ITC is said to be exploring alternate structures for its hotel business in line with industry dynamics, according to a TV channel. Following the news, ITC shares rallied over 3% to hit fresh high at Rs 480.60 on BSE.

Shares of the bank hit a low of Rs 216.10 on the National Stock Exchange in early trade, but were trading slightly off lows at Rs 221.85, with a cut of 4%. The selling came on the back of significant volumes of more than 30 million shares.

On a year-to-date basis, the stock advanced 63%, whereas, in the last month, it has risen over 52% and has rallied over 185% in the past year.

A total of 203,082 shares changed hands on the counter till 12:41PM (IST).

New Zealand fell into recession in June 2023 after the country’s GDP contracted for two quarters. The central bank had raised benchmark interest rates by 12 consecutive times in a bid to curb inflation. As a result, Germany and 20 eurozone nations entered a technical recession, due to slowing economic growth and rising inflation.

On the technical charts, the 200-day moving average of the stock stood at Rs 4659.22.

Promoters held 51.33 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 19.63 per cent and 17.29 per cent, respectively.