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Sensex sheds gains in last hour sell-off, finance stocks fall

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The Indian stock market reversed all its gains made during the day in the last hour of trade to end in the red on Friday, with the BSE Sensex settling 134 points lower.

Analysts said that the sudden sell-off was triggered as funds started rebalancing the portfolio to realign with FTSE rebalancing.

Rahul Sharma, Market Strategist & Research Head, Equity99 Advisors, said: “We witnessed a sudden sell-off in the mid-trading session as funds started rebalancing the portfolio to realign with FTSE rebalancing.”

He noted that, going forward developments on the US elections front will continue to dominate trading sentiments globally.

“Already, big traders are reducing their position in equity markets and shifting into currency trade where there is less risk than equity ahead of the US elections,” he said.

The sell-off in the Indian market was led by the banking and finance stocks – the BSE Finance index closed 1.16 per cent lower and the BSE Banking index 1.13 per cent.

The BSE Sensex, which opened at the day’s high of 39,200.42, closed at 38,845.82, lower by 134.03 points, or 0.34 per cent, from the previous close of 38,979.85.

The Nifty50 on the National Stock Exchange (NSE) closed at trading at 11,504.95, lower by 11.15 points, or 0.1 per cent, from its previous close of 11,516.10 points.

Manish Hathiramani, technical analyst with Deen Dayal Investments, said: “The markets continue to respect the 11,500 level which is heartening for the bulls. The key level to be respected is 11,300-11,350 and if we can manage that, we should be able to achieve 11,800 by the expiry next week.”

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Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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