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Indian benchmark indices hit another peak in intra-day deals today with both the Sensex and the Nifty up over a percent each after the US Fed signaled that its interest rate-hiking policy is at an end and it will cut rates in 2024.
Analysts say the IT space offers reasonable valuations compared to their historical averages, a rarity in the ongoing bull run in the market
A rate cut may weaken the dollar, prompting investors to explore alternative assets, including the Indian rupee. Foreign investors may get drawn to Indian equities, potentially leading to increased capital inflows
On the back of buying by foreign investors as well as the unwavering support shown by domestic institutions and retail investors, Sensex has rallied around 3,500 points in December alone
Despite India's current outperformance, challenges remain, including a policy-induced global economic slowdown and domestic macroeconomic issues like fiscal deficit and reliance on government borrowing for growth