Stay updated with breaking news from 3 Earnings. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
BSE Midcap and Smallcap indices fell over 1.5 percent amid reports that SEBI has urged asset managers to provide investors with more information on the risks associated with their small and mid-cap funds.
The momentum is likely to continue and markets expected to touch new highs. The market will track global cues as no major domestic events are lined up in the sort term, say analysts
The resilient domestic buying is providing the main support to the rally in the market, and the strong performance of the economy and improving corporate earnings are also a solid fundamental support to the markets, according to analysts.
Analysts believe that the pressure to raise deposits would continue and that would mean banks have to cough up more interest to get depositors. Also, much of the repricing of the loan book in terms of interest rate hikes is over. The upshot is that drag on NII growth would continue.
For the Nifty, resistance is at 22,125 and lies in the 21,800–21,600 range, say experts