Nifty 50 Touches 20,000 Mark, Bulls in Control

The NSE Nifty 50 index touched a new all-time high of 20,000 on September 11, led by strong buying from foreign investors, domestic institutional investors, and retail investors. The index has now extended its winning streak to seven consecutive sessions.

Analysts say that the market is overbought and there could be a pullback in the near term. However, they believe that the long-term trend is still bullish and the index is likely to reach 21,500 in the coming months.

The main drivers of the rally in Nifty 50 have been strong corporate earnings, improving economic growth, and positive global cues. The IT sector has been the biggest outperformer, with the Nifty IT index rising more than 15% in the past 3 months.

Here are some key takeaways from the article:

• Nifty 50 has touched a new all-time high of 20,000.
• The index has been in a bullish trend for the past 7 consecutive sessions.
• Analysts believe that the market is overbought and there could be a pullback in the near term.
• However, they believe that the long-term trend is still bullish and the index is likely to reach 21,500 in the coming months.
• The IT sector has been the biggest outperformer in the past 3 months.

Here are some of the factors that are supporting the bull market in India:

• Strong corporate earnings: Indian companies have reported strong earnings growth in the past few quarters. This has boosted investor confidence and led to inflows of foreign capital into the Indian stock market.
• Improving economic growth: The Indian economy is growing at a healthy pace of 7.5%. This is expected to continue in the coming quarters, which will further support the stock market.
• Positive global cues: The global stock markets are also in a bullish trend. This is due to factors such as the strong US economy and the low interest rates in developed countries.

Overall, the outlook for the Indian stock market is positive. Nifty 50 is likely to continue to rise in the coming months, but there could be some short-term volatility along the way.

• 22 Sep

  Technical Analysis Report for Nifty and Three Buy Calls

  The Nifty index has been on a strong uptrend in the past three weeks, but it has recently retraced some of those gains. It is now expected to oscillate within the 19,605 to 19,878 range over the next few sessions. Three stocks that look good for buying over the next 2-3 weeks are Havells India, KSB, and Gujarat Ambuja Exports. All three stocks have strong bullish momentum and are trading above their key moving averages.

• 22 Sep

  Maruti Suzuki Stock Gains on Bullish Stance from Global Brokerages

  Maruti Suzuki stock gains on bullish stance from global brokerages Shares of Maruti Suzuki India surged on Friday after global brokerages Citi and Morgan Stanley maintained bullish stance on the counter. Both brokerages cited the company's improving product mix and attractive valuation as key reasons for their optimism. In addition, Maruti Suzuki reported strong sales performance in August 2023, with total domestic sales jumping 14 percent year-on-year and sale of utility vehicles jumping 118 percent year-on-year. Overall, the bullish stance from global brokerages and the company's strong sales performance are providing a boost to Maruti Suzuki stock.

• 22 Sep

  PNB Gilts Hits Upper Circuit on Inclusion of Indian Bonds in JPMorgan Index

  Shares of PNB Gilts hit upper circuit on September 22, 2023, following news that India's inclusion in JPMorgan's bond index is seen driving billions of dollars of inflows. The index provider will add Indian bonds to its widely-tracked emerging market index starting June 28, 2024. PNB Gilts is a primary dealer in government securities and other fixed-income instruments. The inclusion of Indian bonds in JPMorgan's index is expected to attract significant foreign inflows, which is likely to benefit PNB Gilts and other primary dealers in government securities.

• 22 Sep

  Indian Bond Markets to Remain Stable in Near Term After JPMorgan Inclusion

  Indian bond markets are expected to remain stable in the near term after JPMorgan's inclusion of India in its widely tracked emerging market debt index, according to BlackRock's head of Asia Pacific fixed income, Neeraj Seth. Seth expects inflows of around $20 billion to $25 billion into India after the maximum weight threshold is achieved on the GBI-EM index. Given the size of the global government bond market, this is relatively small and is unlikely to have a significant impact on volatility.

• 22 Sep

  Indian market drops on September 22 despite inclusion of Indian bonds in JP Morgan index

  Indian benchmark indices Sensex and Nifty fell for the fourth consecutive day on September 22, despite the inclusion of Indian bonds in the JP Morgan Government Bond Index-Emerging Markets (GBI-EM) global index suite from June 2024. The market is expected to remain volatile in the near term, with key support at 19,600 for Nifty.

• 1Auto
• 29Business
• 4Commodity
• 1Companies
• 1Cricket
• 6Currency
• 4Earnings
• 14Economy
• 2Entertainment
• 3Expert Columns
• 14India
• 60IPO
• 92Markets
• 44News All
• 2Opinion
• 6Personal Finance
• 7Politics
• 12Real Estate
• 101Stocks
• 1Technical
• 0Technology
• 0Trends
• 1Weather
• 30World