Market Bizzz

The government is actively promoting the growth of this industry by introducing policies and initiatives to encourage innovation and entrepreneurship in this field. The civil aviation ministry estimates that the Indian drone market will reach an estimated turnover of Rs 120-150 billion by 2026

Bull markets are, almost always, initially seen climbing the wall of worry — mostly reflected in the sub-optimal financial commitments from market participants; this is, in fact, good news for markets.

“Banks are in an advantageous position with strong capitalization, lower NPA levels, and successful resolution of old NPAs through NCLT settlements,” says Mukesh Kochar, National Head – Wealth, AUM Capital.

Indian benchmark indices, Sensex and Nifty, started the week strong, with Sensex crossing 65,000 for the first time and Nifty reaching a record high of 19,322. RIL rose 2.4%, BSE gained 9.77%, and Bandhan Bank fell 2.8%. Technical and derivatives analyst Riches Vanara recommends buying RIL for targets of 2750 and 2850, BSE for levels of 695 and 725, and selling Bandhan Bank for targets of 225 and 215.

Most Asian stocks fell on Tuesday as investors awaited more information on central bank interest rate hikes. The US dollar and oil remained steady. The MSCI Asia-Pacific index was down 0.1%, Japan’s Nikkei share average fell 1.1%, and China’s mainland benchmark and Hong Kong’s Hang Seng Index both declined by 0.2%. Wall Street stocks and Treasury yields were slightly up on Monday’s shortened session. Economic data and uncertainty about the Federal Reserve’s policy path are being closely monitored.

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

After the recent 12% rally from the March 2023 lows, we can see some retracement/consolidation but the uptrend remains intact given the strong earnings growth trajectory.

Indian macroeconomic variables like inflation, growth and current account are quite stable, unlike some of the developed economies who are struggling to bring down inflation and facing challenges with respect to growth too.

The fund was launched in Sep’07 just as the markets were reaching manic highs. However, we exercised caution and refrained from fully deploying our capital, keeping a significant portion in cash. When the crisis struck, we were well prepared with only 20-25% of our fund deployed.