Thu, Jun 27, 2024 8:55 PM
2:1 Bonus Issue & 10:1 Stock Split: Ishan International Limited
A Flip by Riya Sharma
Investors expect Japan's stock market rally to slow, leading to a shift in investments to rival markets. The Topix index is forecast to climb 2.9% to 2,890, and the Nikkei 225 Stock Average to rise 4.8% to 41,489 by year-end, a slowdown from the 18% advance in the first half. Concerns over the weak yen, inflation, and potential interest rate hikes weigh on sentiments.
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Indian markets have surged over 7% this month, driven by the election results. Investors are now focused on Union Budget-related announcements, global macroeconomic indicators, and foreign fund inflows. The NIFTY50 and SENSEX have reached new highs, with the IT sector and private banks outperforming. The cement and telecom sectors are in focus, and foreign institutional investors have purchased.
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The market is expected to rise, forming a bell curve pattern, with private banks and Reliance attracting significant investments. The Nifty index moved up 509 points, with a target of 24,380 and a possible further steep up-move before a corrective sideways phase in October. The TimeMap indicates a shift towards defensive strategies, with a focus on value investing after July 6.
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