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