
Market view: After the trade deal with America, there is a strong boom in the market. Nifty has jumped almost 700 points and crossed 25700. Bank Nifty has made a new HIGH. Midcap and smallcap are also seeing a rise of more than 3%. INDIA VIX also appears to have jumped 6% and is nearing 14. Capital market, realty, consumer durables and auto shares have gained more. These four sector indices have fallen by 3 to 5 percent. Besides, a strong rise has also been seen in defence, pharma, IT and metal. On the other hand, shares of Adani Group have seen a rise of up to 12 percent.
Impact of India-US trade deal on the market
Talking about the India-US trade deal and its impact on the market, CNBC-Awaaz Managing Editor Anuj Singhal said that the news that the market was waiting for has finally arrived. India-US trade deal announced. India-US trade deal has removed a major hurdle. After the budget, now the trade deal will add new life to the market. There are bullish signs from GIFT Nifty also.
Anuj Singhal advises to avoid new purchases after the rise of 800 points in Nifty. Bottom has been formed in the market at 24700. Those who short in today’s bull market will be in dire straits. There is also weekly expiry today, its effect will be visible. If the market becomes stable then the purchases by FIIs will also return. Today the strength of the rupee will also be in focus. Further rally in the market will depend on good results. If the results do not improve, there is fear of further failure of the rally.
Impact of India-US trade deal
A strong rally is possible in the entire market today. Tariff incidence is positive for pharma and healthcare companies. Keep a special eye on oil, gas and energy sectors. India has moved towards purchasing more oil from the US. Shrimp and seafood exporters can get a big boost from this deal. The textile sector will come into focus again. Auto and manufacturing stocks will also get support. Opportunity for capital goods and defense sector also. The IT sector can benefit from this deal.
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