IGI Logo

Below the Quote on Nifty scales new heights, crosses 25000 by Mr. Ajay Menon, MD & CEO, Broking & Distribution, Motilal Oswal Financial Services

Indian Equities started the first day of August by making a record High. Nifty crossed the 25k levels for the first time, making a silver jubilee on the charts. The index took 24 trading sessions to complete a 1000-point rally, the third-fastest in the index’s history. Nifty has gained around 11% in the last 3 months. This rally is driven by healthy GDP growth, control inflation, strong domestic liquidity both from Retail as well as Institutional participants, and a progressive monsoon. Global cues have been supportive after the US Fed indicated a possible rate cut in September. We expect this positive momentum to continue going forward driven by healthy macros, India’s strong position globally, and steady corporate earnings

Above views are of the author and not of the website kindly read disclaimer