Quote on Post market comment by Pranay Aggarwal, CEO, Stoxkart - a discount broker
Below the Quote on Post market comment by Pranay Aggarwal, CEO, Stoxkart - a discount broker
Nifty index created a consecutive fourth red candle on daily charts and closed below the important psychological support of 23,500. Such bearishness usually spooks investors with "recency bias" - giving more weight to recent data and overlooking the initial premise they invested with. At this point, it is worth reviewing the macro data that is relevant to investors.
The projected growth rate for FY 2025 and 2026 is 7.2% and 7.1% by RBI. In September, the NSE market cap to GDP ratio reached 150% - the highest in 20 years. The demand for Indian goods domestically and internationally is swelling, as indicated by the October PMI of 57.5, which was significantly above September's 56.5 level.
We have a politically stable government, the fiscal deficit is under control, and capital expenditure is rising; all of which confirm India's long-term growth story. Investors are cautioned to stick to their premise and plans objectively.
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