June 30, 2024 | Read Online
Price of collectible watches continue to soar
Source –Wall Street Journal, alphaideas
Finally as we have been saying private banks come to the party and Reliance popping up the index to 24k levels
Mid and Small caps after a long while played second fiddle
Nasdaq closes in on 18k levels
As we cross 24k, there is a possibility Nifty might continue to move higher to our earlier target levels of 25k-26k (Mentioned in our annual note) – However we continue to believe that the current upside could be led by private banks and Reliance which have under participated
We at current levels are now wary of individuals putting in new moneys (especially ones who are already fairly invested into equities)
Shall I stop my STP’s now?
Our Answer:
As the markets come close to 24k Nifty levels, they trade at almost 23 times (Nifty 50) and 26 times (Nifty 500). Though we remain categorically bullish over the next 2-3 years backed by strong tailwinds of demographics, liquidity and reforms, the short term texture looks overdone and hence we recommend a pause of any further STP's for investors who are high on equity i.e. They are close or beyond their equity allocation limits.
Fears of a weak monsoon could result in rising food prices - Read More
SEBI decisions from it's last board meeting (We'll do a detailed post on this tomorrow) - Read More
India allocation soars in emerging market equities - Read More
Why are super-rich Indians moving to the UAE - Read More
We put in a chart today of private bank ETF that is one good defensive play at this market levels
Like us to break down a specific finance story? Reply to us here.
