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Each of the past three years had a similarly strong consensus that proved entirely wrong.

“Because there is cash waiting to be invested in the market across local and global investors, we will have to keep in mind that despite headwinds corrections will be shallower and the rise could be higher. The one big worry for markets will be policy stability. Today, the market is discounting continuity on governance and continuity of policies. If there is any change over there, then certainly there could be some reaction.”

The Japanese yen weakened against other major currencies in the Asian session on Friday, as Asian stock markets traded higher, following the dovish comments from the U.

Exide Industries stock formed the Morning Star candlestick pattern in October and thereafter started marking the sequence of higher tops and higher bottoms. It has surged by over 23% in just 26-trading sessions. However, it has marked high of Rs 299.40 and thereafter witnessed minor throwback.

The Federal Reserve held interest rates steady for a third meeting and gave its clearest signal yet that its aggressive hiking campaign is finished by forecasting a series of cuts next year. Officials unanimously decided to leave the target range for the benchmark federal funds rate at 5.25% to 5.5%, the highest since 2001. Policymakers penciled in no further interest-rate hikes in their projections for the first time since March 2021, based on the median estimate.