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All eyes on Fed as we enter volatile September
Indian equities fared better as compared to their global peers as risk-on sentiment prevailed. Index gained 1.5% and recorded new highs along with Midcap and Small caps
What lies ahead: Nifty is entering September on a positive note and maintaining its higher high-low sequence. For the month we expect, Nifty to gradually head towards 25800, albeit episodes of volatility along the way cannot be ruled out. Key short-term support remains at 24700
Global cues: Global equities are in steady up trend and would continue to weigh on sentiments and provide direction amid expectations of rate cut in US
Breadth: Market breadth for the week was flat as some profit taking in Mid and small cap segment was visible at new highs.
Sectorally, IT, Pharma, Consumption are expected to outperform while Metals are poised with favourable risk-reward proposition.
Disclaimer – I ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is acting as a distributor to solicit bond related products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein mentioned are solely for informational and educational purpose.
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