There is no stopping the Indian markets which has been climbing new highs with every passing day. Now in the week to September 17, 2021, Indian indices have logged new highs of 59737 on the Sensex and 17793 on the Nifty. Also, in the week owing to a record surge, the Indian markets have France capital market to become the sixth leading stock exchange globally.
Other global markets though in the similar timeframe have even record fall such as the US' S&P 500 that got dragged by as much as 1%. It is being viewed that some of the macros are not working in favour of well established markets and hence they are seeing weakness. The nervous is also surfacing owing to hitch around the US Fed tapering timeline and delta variant surge. Also, another cause of concern in the US markets is the possible corporate tax hikes in the US.
Back to Indian markets
In the week to September 17, 2021, there is seen profit booking lurked during the last trading session and counters such as metal and PSBs saw a massive fall of over 2%.
Nonetheless, the next week to September 24, the Indian markets will be guided by the US Fed meeting outcome, which may nudge markets globally, with Indian markets not being an exception.
For the investors the run up has been too fast on the indices and hence should avoid buying into the stocks and wait for a dip probably. Likewise there is a view that as the PSBs did not participated in the bull run so far it may continue to inch higher catching up with the rally.