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FTSE looses steam

FXStreet (Mumbai) - The UK equity markets appear exhausted as prices have declined steadily from the day’s high.

The Ftse is trading 0.42% higher at 6390.30, down from the day’s high of 6411.30. The index breadth is positive with an advance decline ratio of 90:10. However, the index is being pressurized by banking stocks which are down by 0.90%. Meanwhile, the Oil and Gas sector is down by 0.24% as well. Among the stocks, standard Chartered has lost 8.29% today after it reported a fall of 16% in quarterly profits.

Among the top gainers are – Mondi, IAG, Vodafone, Ashtead, Dixons Carphone – which have gained more than 2% each.

Ftse Technical levels

The index has an immediate resistance of 6419, above which it can rise to the yesterday’s high of 6443 levels. On the flip side, prices may decline to 6340 levels if the immediate support of 6380 is breached.

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