💼The fundamental factor supporting the rally which has taken the market to record highs is the series of positive news: Q3 GDP growth rate of 7.6%, CPI inflation falling to 4.87%, Manufacturing PMI rising to 56, Brent crude declining to $76 and FPIs turning buyers aided by correction in US 10-year bond yield to 4.23%. 💼These positive economic news is being strengthened by expectations of political stability after the 2024 General elections. 💼Since these positive developments are mostly in the price, the market is likely to wait for incoming crucial data before making further moves. 💼Therefore, the market will be keenly watching the inflation print from the US tonight and the Fed’s message on Wednesday. 💼An important trend in the market is the accumulation happening in the fairly-priced segments like PSU banks and some leading private banks. . . . #StockMarket #inflation #EconomicOutlook #InvestmentOpportunity #EmergingMarkets #MarketUpdate #StockMarket #inflation #EconomicOutlook #InvestmentOpportunity #EmergingMarkets #MarketUpdate
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💼Global and domestic cues favour continuation of the ongoing rally in the market despite high valuations. 💼FIIs turning buyers, strong DII inflows, exuberant retail investors and thriving IPO market supported by strong economic fundamentals can sustain the rally in the short run ignoring the high valuations. 💼The overarching message from the RBI on Wednesday was that 7percent GDP growth for FY 24 is a conservative estimate. 💼This is an indication of the growth momentum in the economy. 💼A significant trend in the market is the outperformance of the Bank Nifty over the Nifty. 💼Last week while while Nifty appreciated by 3.5 percent, Bank Nifty shot up by 5.5 percent. 💼This outperformance is likely to continue, given the fair valuations of banking stocks, particularly the leading names. 💼For the overall market safety is now in large caps. . . . #StockMarket #inflation #EconomicOutlook #InvestmentOpportunity #EmergingMarkets #MarketUpdate #StockMarket #inflation #EconomicOutlook #InvestmentOpportunity #EmergingMarkets #MarketUpdate
