India’s outperformance in September so far has been amazing, but the vibrancy of the market has pushed its reputation to a very high level. India’s valuation premium for EM peers is currently over 80%. Analysts said it was difficult to maintain.
“Investors may consider mitigating portfolio risk by moving to the safety of high-quality large caps. Partial profits in the small and medium-capitalization segment and transfer of funds to fixed income It may be considered. ”
How about good stocks
After opening on the green, the benchmark index jumped even higher. At 9:22 am, the BSE flagship Sensex rose 366 points (0.61%) to 60,251. Nifty in the NSE benchmark increased by 109 points (0.61%) to 17,931.
“Nifty tends to be very bullish. Nifty50 can face resistance at 18,000, but 17,650 can act as immediate support,” said Mohit Nigam, PMS Head of Hem Securities. I am.
Infosys was the largest increase of 2.38% in the 50-share pack Nifty. Winners included Wipro, HCL Tech, HDFC Bank, Tech Mahindra, IndusInd Bank, TCS and Asian Paints.
JSW Steel was the top loser in the pack, down 1.31%. Hindal Coin Dustries, Tata Steel, HUL, Tata Consumer, Titan, Shree Cement and NTPC are one of the companies that traded in the red.
Factors that move the market
Aggression of Federal Reserve Board announcements? : Some analysts said the Fed’s announcement seemed to reassure investors that interest rate hikes would continue someday, even though its massive asset purchase program was set to begin shrinking this year. I am.
Fall of the dollar: Risk-on sentiment squeezed the dollar, which plunged overnight against its peers’ baskets, dropping from nearly a month’s highs to a week’s lows.
Rising unemployment rate: The number of Americans filing new unemployment claims increased unexpectedly last week, but the underlying trend was in line with the steadily recovering labor market.
Evergrande Crisis: Investors continue to be concerned about the fate of real estate developer China Evergrande, whose interest payments are due on Thursday. Friday’s share price fell 5.2% after rising 17.6% a day ago.
The broader market index was trading higher, surpassing their major peers in the morning trading. Nifty Small Caps were up 0.84%, while Nifty Midcaps were up 0.66%. Nifty500, the widest index of NSE, rose 0.60%.
Balrampur Chini Mills, Dilip Buildcon, Vakrangee, Aditya Birla Capital, Mphasis and Oberoi Realty profited from this space, while Zee Entertainment, Crompton Greaves, Sun TV, PVR, KEC International and Welspun India were under selling pressure.
MSCI’s widest non-Japanese Asia Pacific stock index lost 0.1% and was set at a weekly loss of 0.68%. Australia’s share price fell 0.41%, but Hong Kong’s benchmark was almost flat.
Japan’s Nikkei Stock Average rose 1.93%, but caught up with the global rise after the holidays. China’s top stocks rose 0.6%, reversing initial losses, after weekly injections reached 270 billion yuan ($ 42 billion) due to cash injections from the central bank. This is the largest since January.
US equity futures S & P 500 e-minis rose 0.5%.
Sensex Highest Record: Sensex Achieves 60,000 Marks for the First Time: Key Factors Behind the Rally
https://economictimes.indiatimes.com/markets/stocks/news/sensex-tops-60k-for-first-time-key-factor-driving-market/articleshow/86471432.cms Sensex Highest Record: Sensex Achieves 60,000 Marks for the First Time: Key Factors Behind the Rally