Europe’s main stocks index rose on Wednesday, boosted by travel and leisure and financial shares, with investors drawing comfort from fresh evidence of moderating inflation in the world’s largest economy that supported an early rate-cut narrative. The pan-European STOXX 600 closed 0.5% higher, with all the major regional bourses also ending in positive territory. Data…
Despite Indian benchmark indices ending with strong gains this week, foreign portfolio investors (FPIs) have remained unenthusiastic in June so far, off-loading Indian equities worth Rs 14,794 crore. In 2024 year-to-date, FPIs have off-loaded stocks worth Rs 38,158 crore. FPIs continued the trends in June from May and April, in which they sold shares worth…
Key Points The financial sector, previously up over 11% YTD, faces a critical juncture with a recent 2% pullback suggesting a potential double top and trend change. XLF is near key support levels, with the 20- and 50-day SMAs converging. A break below $41, despite a near 10% YTD gain, could confirm a trend shift….