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ICICI Securities' Probal Sen views the excise duty hike, not passed to consumers, positively, especially after prior LPG compensation disappointments. The collected excise tax, along with the LPG cylinder price increase, will offset accumulated LPG losses. While the market anticipated a price cut, the government is monitoring crude price trends.
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News and Media
On the positive side there has been a good union budget (tax rates cut), easing actions by the central bank (rate cuts, liquidity boost, regulatory relaxations), and uptick in government spending. The rally in March was a welcome relief. However, I believe that the markets could remain rangebound in the near term.
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News and Media
In the Nifty50 pack, four stocks' close prices crossed below their 200 DMA (Daily Moving Averages) on April 7, according to stockedge.com's technical scan data. Trading below the 200 DMA is considered a negative signal because it indicates that the stock's price is below its long-term trend line. The 200 DMA is used as a key indicator by traders for determining the overall trend in a particular stock. Take a look:
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News and Media
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