Market Update: The Indian stock market opened on a mixed note today, with Sensex and Nifty trading near record highs. Investors are balancing domestic triggers with global cues, keeping volatility slightly elevated.
📌 Key Market Drivers
1. GST Cuts Fuel Consumption
Recent GST rationalization measures announced by the government have boosted investor sentiment. Auto, FMCG, and consumer discretionary sectors are showing strength as demand recovery hopes rise. Analysts estimate the reforms could add nearly ₹6 lakh crore in market value over the coming months.
2. Infosys Buyback in Focus
Infosys’ ₹18,000 crore share buyback is making headlines. The move signals management’s confidence in long-term growth. However, investors are also watching out for the new buyback tax rules effective October 2024, which could affect net payouts. IT as a sector is trading cautiously, with selective buying seen.
3. Fed Watch – Rate Cut Hopes Build
Globally, markets are awaiting the U.S. Federal Reserve’s upcoming meeting. Softer job data and easing inflation have raised expectations of a rate cut. A dovish Fed could support emerging markets like India by keeping liquidity flows intact. Oil prices remain firm, adding to global market uncertainty.
📊 Market Snapshot
- Nifty 50: Facing resistance around 25,150–25,200; support near 24,900.
- Sensex: Range-bound with mild volatility.
- Sector Trend: Realty, Power, and PSU Banks outperforming; IT and Auto lagging.
- India VIX: Slightly higher, signaling caution among traders.
💡 Investor Takeaway
The near-term outlook remains range-bound with stock-specific action. GST-led consumption plays, select PSU banks, and real estate may continue to see momentum. Long-term investors should focus on fundamentals and avoid chasing short-term rallies amid global uncertainty.
https://rxwealthcreation.com/market-update-sebi-reforms-infosys-buyback-fed-hopes/
