Sensex Crossed 65000* for the first time!
Foreign institutional investors (FIIs) showed a favorable stance in the cash market, being net purchasers of Rs 20,852 crore during the June series. These positive actions by FIIs contribute to the overall performance of the Index.
1. Softening U.S. inflation readings and expectations of a more dovish Federal Reserve stance positively impacted the Indian market, strengthening Asian currencies and boosting investor confidence.
2. Concerns over China's economic outlook and potential interest rate cuts limited gains in the Indian market, as China is a significant trading partner for India.
3. Optimism surrounding the Indian economy, reflected in the Indian rupee surging to a two-month high, contributed to positive market sentiment and drove increased investment in the Indian market. (www.siptiger.com)
The Nifty index has effectively breached the 18,000 level, signifying a significant shift in its trading range. Going forward, the expected range is projected to be between 18,000 and 21,000. There is a strong probability that we may witness the upper band of 21,000, which has the potential to compensate for the waiting period of the past two years by delivering favorable returns.
To take advantage of this shift, it is recommended to consider reallocating investments towards more aggressive funds whenever market falls. This strategic adjustment can help maximize the benefits derived from the current market trend.
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