Is Nifty50 Poised for a New All-Time High? Key Factors Impacting Dalal Street

The Nifty50 closed at 24,572.7, up 31.5 points, or 0.1%, from its previous level, while the Sensex finished 12.2 points lower at 80,424.7. With hopes that the US economy would avoid a recession and that declining inflation would start a cycle of rate decreases, investors around the world eagerly anticipated the release of the FOMC’s most recent review minutes, which are expected this week.

Is Nifty50 Poised for a New All-Time High

Monday’s turbulent session saw domestic market benchmarks close mostly unchanged as buying pressure in IT, energy, and metal shares was countered by selling pressure in auto counters and metal. Investors throughout the world anticipated the release of the FOMC’s minutes Final review scheduled for this week, with the hope that the US economy would avoid recession and that declining inflation would initiate a cycle of rate reductions, regarding interest rates in the greatest economy in the world.

The Nifty50 closed at 24,572.7, up 31.5 points, or 0.1%, from its previous level, while the Sensex finished 12.2 points lower at 80,424.7.

Of the 31 gainers in the Nifty50 basket, Hindalco, Shriram Finance, Bharat Petroleum Corp, Tata Steel, LTIMindtree, Coal India, Dr. Reddy’s, TCS, ONGC, and NTPC saw the biggest increases at the conclusion of the day, finishing between 1.5% and 4.0 percent higher. Conversely, Tata Consumer, Bharti Airtel, Nestle India, IndusInd Bank, Axis Bank, Mahindra & Mahindra, Bajaj Auto, SBI Life, ICICI Bank and Tata Motors were the biggest losers of the day, with respective declines of 0.8% and 2.6%.

The largest drags on the main indices were ICICI Bank, M&M, and Bharti Airtel; but, heavy hitters like Tata Steel and TCS prevented them from suffering further losses.

The following are some of the major variables at work on Dalal Street right now:

• Profits season is largely positive: Dalal Street is currently in the last stretch of the April–June corporate earnings season, with about 15 businesses remaining to declare their quarterly results through September 2. According to data, most businesses saw an increase in revenue in the June quarter when compared to the same period the previous year.
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  Positive US economic numbers: diminishing fears of a recession This week’s inflation data The biggest economy in the world has allayed some fears of a recession, and all eyes are now on the headlines from this week’s annual Jackson Hole Symposium.
• Expectations for further rapid rate reduction in the US: The US CPI report that was made public this week exceeded the forecasts of economists, which encouraged speculation about impending cuts to the benchmark interest rate in the economy. The Fed Chair-led FOMC maintained the key lending rates unchanged at its most recent scheduled review, although it made a suggestion that they might be lowered at its September meeting.

Global oil benchmark: Is Nifty50 Poised for a New All-Time High

crude oil below $80 per barrel Amid worries about demand in China, the world’s largest oil importer, Brent futures stayed below the psychologically significant $80 per barrel threshold on Monday. Lowering the price of crude oil is a good thing for markets such as India, which imports more than four-fifths of the oil required annually.
Geopolitical worries are lessened: According to many observers, the current state of the Israel-Iran issue is better for world markets than it was before, since there hasn’t been any further escalation.

• Bullish FIIs are emerging, but DIIs are still net buyers: After selling Indian equities for three days in a row, FIIs were net purchasers last Friday. After withdrawing Rs 9,383 crore in the previous three sessions, provisional data indicates that FIIs made net purchases of around Rs 767 crore on Friday. Meanwhile, DIIs continued to be net purchasers for the tenth consecutive session, with inflows of Rs 2,606 crore on August 16.
• Positive world markets; the Dow is only 2% away from a new high One of the three primary Wall Street indices, the Dow Jones Industrial Average, gained 96.7 points (0.2%) to close at 40,659.8 last Friday. This is less than 720 points behind the all-time high of 41,376 points reached in mid-July. (Is Nifty50 Poised for a New All-Time High)
  A new peak on Dalal Street in the making?

Indian stocks, according to several experts, are about to reach a new high in the coming weeks.

He stated on Monday that Dalal Street usually stays bullish close to Ganesh Chaturthi.

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