Markets extended gains on Tuesday with the Nifty closing well above the 18000 mark while broader markets underperformed. The consistent FII buying in the past few days has created a solid cushion for Indian markets which may force Indian markets towards an all-time high in the coming days.
In event of hiccups, like today’s trading session where Indian indices may open a gap down on the back of disappointing CPI numbers one need not panic. And continue to add long positions. Any gap down is likely to see follow-up buying as Nifty 50 has already confirmed a weekly breakout which ensures a significantly higher closing in the coming week.
US Markets tumbled on Tuesday after the latest inflation reading dashed hopes that surging prices had peaked across the US economy. Many investors now expect a full 100-basis point rate hike by the Federal Reserve during its policy meeting next week to rein in inflation.
Nifty 50 Index & India VIX
Stocks to watch
Positive Read through
- Tata Steel in Talks for Rs 10b Bond Sale.
- Infosys Collaborates with BPOST to build a cloud environment and cyber resilience.
- KEC International Wins new orders worth Rs 11.08b across its various businesses.
- Hatsun Agro Product BOD on September 19 to consider raising of funds by issue of equity shares on a rights issue basis.
- JSW Steel has forged a collaboration with the SMS group for exploring solutions for the implementation of decarbonization projects across various JSW Steel plants in India.
- Bajaj Holdings & Investment has declared an interim dividend of Rs 110 per share of the face value of Rs 10 for FY23.
Negative Read through
- Neuland Laboratories: Deepak Gupta has resigned as Chief Financial Officer.
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