INVESTING UPDATE 24

  In the coming week, after consistent run up in past six weeks, the market is expected to see a rangebound trade and consolidation, with major focus on the Fed meet outcome and the Powell commentary. The equity markets had a spectacular run in the week ended December 8, reporting the biggest weekly gain in last 16 months and hitting the much-awaited psychological 21,000 mark for the first time. Favourable state elections results hinting more infrastructure investment from government, better-than-expected economic growth for Q2FY24, increase in full year GDP growth estimates by RBI while maintaining status quo on policy rates & retaining full year inflation forecast, strong hopes of ending rate hike cycle despite inflation concerns, and stable oil prices lifted market sentiment. In the coming week, after consistent run up in past six weeks, the market is expected to see a rangebound trade and consolidation, with major focus on the Fed meet outcome and the Powell commentary espe...