Market Bizzz

The U.S. dollar index and benchmark 10-year Treasury yields were underpinned after data showed the U.S. economy grew faster than expected in the second quarter, potentially keeping a much-feared recession at bay and increasing the likelihood that the Fed could further hike interest rates.

The Nikkei newspaper reported the central bank will maintain its 0.5% cap for the 10-year government bond yield, but discuss allowing long-term interest rates to rise above that level by a certain degree.

The Nifty index is now trading at more than 22.5 times its trailing earnings. Given this situation, it might be prudent to adopt a staggered approach when making new equity purchases and consider waiting for potential corrections to add to our equity exposure.

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.