Wednesday, August 19
After closing at a high of 26,328.55 on Friday, the Nifty is expected to regain momentum in January. Analysts said index is trading above key averages and showing strength in momentum indicators, making dips a buying opportunity as long as it holds above 26,000.DHARMESH SHAH VICE PRESIDENT AND HEAD OF TECHNICAL, ICICI SECURITIESWhere is Nifty headed this week? The breakout from a five week consolidation range of 26,300–25,700 confirms the resumption of the uptrend. The Nifty is expected to extend rally towards 26,800 in January. Our positive bias is supported by the Bank Nifty propelling the index to a fresh all-time high after retracing a four-week decline in just a single week. The ratio chart of MSCI India versus MSCI World has once again bounced from cyclical lows held since CY21. Th
India remains a key market for emerging markets veteran Mark Mobius, with about 30% of his portfolio allocated to country. In an interview with Himadri Buch, Mobius, once dubbed as 'The Indiana Jones of Emerging Market Investing', shared his views on India-China, US Fed rate movement, and gold, among other topics. Edited excerpts: How is your portfolio allocation looking as the focus shifts to the new year? How do you view holding cash? The outlook looks quite uncertain, particularly because uncertainty in the US is pronounced. I've been advising people not to go out of the market, but at the same time to be cautious and be ready with cash in hand. I would say the emphasis has got to be on capital preservation. People should keep maybe 20% in cash or got to keep some cash in reserve, becau
Mumbai: Escalating geo-political tensions due to the latest US military intervention in Venezuela could keep the rupee under pressure this week, market experts said. Uncertainty in oil exporting Venezuela and likely further US action could cause volatility in oil prices and impact the rupee, bankers said. "One can expect that the currency will be the most sensitive to global volatilities and the market is positioned toward a weak rupee, although it is difficult to say by how much or what levels will the Reserve Bank of India (RBI) defend," said Anshul Chandak, head of treasury, RBL Bank. The Indian currency has posted two straight weeks of decline, ending last week below the critical ₹90 per dollar mark amid persistent year-end dollar demand. Bankers said the currency market will be vola
