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Aditya Sood of InCred Asset Management anticipates high market valuation with strong earnings growth in Nifty50 companies. India's stock market premium valuations are supported by superior ROE and high growth potential over the next decade. Sood says: "The market return is going to be a function of earnings growth rather than multiple expansion."
Vinod Nair, Head of Research at Geojit Financial Services, said this confidence is supported by a global rally in expectation of a US Fed rate cut in June and a healthy domestic earnings growth forecast in Q4FY24. �� Stock Market Today: Indian Indices on Strong Footing at Onset of New Financial Year 2024-25.
The S&P 500 once again closed at a new all-time high, achingly close to 5,000 for those enamored of nice round numbers.
Benchmark indices crashed in the afternoon session today after giving up all of their early gains. Sensex slumped 1,070 points to 70,368 and Nifty lost 334 pts to 21,237. Sensex crashed 1,805 points from day’s high to 70,234 level today. In the morning session, Sensex hit a high of 72,039. Around Rs 8 lakh crore of investor wealth was wiped out in the afternoon session.
SIPs stood at ₹16,042 crore in September, up from ₹15,814 crore a month ago. Net inflows into equity funds fell 30.39% to ₹14,091.26 crore