Street signs: Nifty becomes bearish, Nykaa in demand in grey market, & more

Shares of FSN E-Commerce Ventures, company that operates Nykaa beauty stores, are trading at a premium of over 50 per cent in the grey market ahead of its Rs 5,352-crore IPO

Nifty becomes bearish on weekly charts

The market could extend last week’s correction as the benchmark Nifty has formed a bearish candle on the weekly charts, say analysts. The 50-share index finished at 18,115 on Friday, giving up 2 per cent in four straight days of losses. Shrikant Chouhan, head of equity research (retail), Kotak Securities, says the index could fall further if it fails to sustain above key support levels 18,050 or 17,950. On the upside, the index faced resistances at 18,300 and then 18,425. Some experts say the banking stocks, which have high weightage in Nifty, have formed a