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The Nifty has reached 25,400 this week. Experts predict the rally may continue next week. Rajesh Palviya suggests Nifty could reach 25,750 if it surpasses 25,500. Banking stocks are currently supporting the market. Palviya sees potential in PSU banks, NBFCs, power, and chemical sectors. Suzlon Energy and Bharat Forge are his stock picks.
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Foreign Institutional Investors (FIIs) have aggressively invested Rs 4,500 crore in Indian auto stocks following the GST rationalization announcement, anticipating a consumption-led rally. The GST Council's decision to slash tax rates across auto segments, coupled with seasonal tailwinds, has fueled this surge. While autos, metals, capital goods, and financials saw inflows, consumer services, IT, and real estate experienced outflows.
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Wall Street's main indexes closed higher on Friday, securing a weekly gain fueled by FedEx's strong earnings and positive sentiment in the technology sector. Optimism surrounding AI-linked stocks and the Fed's anticipated rate cuts further boosted the market. However, concerns arose from a blocked funding bill and Lennar's disappointing forecast, adding a layer of caution to the overall positive trend.
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News and Media
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