Indian stock market continues its winning streak in July, setting new records and attracting investors’ attention. The bullish rally, fueled by foreign funds and positive investor sentiments over Modi 3.0, has propelled the market to new highs. With the Union Budget 2024 on the horizon, investors are closely watching for any policy announcements that could impact specific stocks.
Key sectors such as IT, pharma, and energy have led the gains, with the Nifty 50 achieving record highs and posting its longest winning streak of the year. The Sensex also reached a historic milestone of 80,000 points, marking its fastest-ever 10,000-point bull run.
As the market gears up for the upcoming Union Budget and the release of Q1FY25 results, investors are eagerly anticipating corporate earnings and government policy updates. The budget session, scheduled for July 22 to August 12, will be closely watched for growth-oriented policies and economic development initiatives.
Global cues, including US market performance and key data releases from China, Germany, and the US, will also influence market sentiment. Analysts are keeping an eye on US Federal Reserve Chair Powell’s testimony and the US inflation report for potential rate decisions.
With FII activity turning positive and foreign investors showing renewed interest in Indian equities, market experts are optimistic about the ongoing rally. However, they caution investors to remain vigilant and focus on stock selection amidst potential volatility.
Overall, the market outlook remains positive, with technical indicators suggesting consolidation and potential breakout levels for the Nifty and Bank Nifty indices. Investors are advised to adopt a disciplined approach, favoring sectors like energy, FMCG, and pharma for long positions while staying selective in others.
As the market continues to climb to new heights, it is essential for investors to stay informed, consult with experts, and carefully evaluate their investment decisions to navigate the dynamic market environment effectively.
