September 29, 2024 | Read Online
The unsettling calm in Indian markets
A great analysis by DSP Mutual Fund in its “Netra” publication which highlights how complacent the markets have become on the back of sustained liquidity.
Markets continued their up move with the Nifty topping 26,000 and Sensex moving past 85,000.
Gold touched all-time highs both in USD and INR (We have been bullish on Gold since 43,000 levels, however, we will be skeptical of fresh lump sum purchases at these levels) A trump win would be negative for gold and vice versa.
October could continue to be a good month for equities in the absence of any major negative triggers (The only possible big trigger could come if the Israel – Iran conflict escalates on account of the latest developments).
Markets will now start cheering for a 1 lakh Sensex level which as we had mentioned earlier also is quite likely (Several large cap pockets are quite reasonably valued and the gush of liquidity will have to find its way into these stocks which could lead the markets higher).
To reiterate November is a very crucial month for equities due to US and domestic political developments.
Mentioning again at the risk of repetition, continue to stay invested but carry out a review and reality check of your portfolios (Viz – Balanced between large, mid, and small caps, avoidance of trending themes/profit booking, avoid lock-in products, etc).
Our newly launched LinkedIn channel “Money Matters” posts about how social media is leading into FOMO which should be avoided.
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