Mumbai, 13 September (IANS). The second half of FY 26 saw a strong rise in Indian stock markets this week in the second half of FY 26, inspired by better income and making GST rationalized and monetary softening benefits, due to better income expectations.
The benchmark index Nifty and the Sensex closed with an increase of about 1.32 percent and 1.21 percent respectively due to the rise in auto and IT stocks. Midcap and smallcap stocks performed better with benchmark indices.
The IT index was seen by the Federal Reserve due to optimism due to expectations of interest rate deduction, buyback declaration of Infosys and improving technology expenses.
The Nifty is making a bullish candle by rising 373 points. Analysts stated that the index on the weekly chart has broken the Simatrical triangle pattern, indicating the possibility of further and the possibility of boom.
According to Choice Equity Broking, “The Nifty remained up to 25,114 by staying above 25,100 and performed firm. It continues to trading above its major EMA levels, which reflects the trend of rapid trends. The immediate resistance levels are 25,160 and then 25,250 and then 25,500.
Vinod Nair, head of research of Geojit Investments Limited, said that unlike the IT sector, consumer-centric sector such as auto and FMCG has gained momentum, as they hope that GST cuts will increase domestic consumption and help improve demand.
Domestic Consumer Price Index (CPI) inflation recorded a slight increase and continuous foreign withdrawals put pressure on the rupee. Gold reached a new level due to strong safe investment demands amidst global trade tension.
This week, US retail inflation increased to 2.9 percent in August, the highest rate since January.
Except for food and energy, the main inflation remained stable at 3.1 percent. The focus of the market focused on the intense possibility of Slodown and Fed to be relaxed by Slodown and Fed. The 10-age US Treasury note declined to 4 percent, the lowest level since April.
Many analysts have warned the fed to reduce rates amidst high inflation. He hoped to cut 25 basis points at the FOMC meeting to be held next week in August and is expected to cut a total of about three by 2025, due to the United States’ Consumer Price Index (CPI) inflation (CPI) inflation and rapid fall in labor market dynamics.
-IANS
SKT/
