Stock Market LIVE: Benchmarks hit fresh record highs, Nifty nears 25K; SmallCap rises over 1% | News on Markets
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— The undercurrent of this bull market has turned stronger on positive cues. The soft landing scenario for the US economy and expectation of rate cut by the Fed in September are intact. This will provide the global support to this bull market. The decline in the US 10-year bond yield to 4.17 per cent and decline in Brent crude to $ 81.2 are other supporting factors.
Market view: ‘The undercurrent of this bull market has turned stronger on positive cues’
— The undercurrent of this bull market has turned stronger on positive cues. The soft landing scenario for the US economy and expectation of rate cut by the Fed in September are intact. This will provide the global support to this bull market. The decline in the US 10-year bond yield to 4.17 per cent and decline in Brent crude to $ 81.2 are other supporting factors.
— In a departure from recent trends both FIIs and DIIs turned buyers last Friday resulting in a total buying of Rs 5,320 crore pushing the market sharply up. DIIs which were sitting on cash waiting for clarity on tax proposals in the Budget have started deploying funds, particularly in quality largecaps, which explains the sharp rally in the Nifty.
— In the current scenario the market is likely to ignore the valuation concerns and march ahead. ICICI bank has posted good Q1 numbers. The market is largely ignoring the good results of banking stocks on fears of potential margin compression due to slow growth in deposits.”
Vews by: V K Vijayakumar, chief investment strategist, Geojit Financial Services.
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