Bitcoin falls 8.1% from its peak in last 24 hours
Bitcoin retreated from its record high of more than $73,000 as the market witnessed a selloff and higher-than-predicted US inflation data signalled that interest rates might stay high.
Bitcoin retreated from its record high of more than $73,000 as the market witnessed a selloff and higher-than-predicted US inflation data signalled that interest rates might stay high.
“Investors have time, even now, to switch from small-caps to fairly valued large-caps and partly to fixed income products. At this stage in the market, safety should be given priority over return," he said.
India’s market cap is currently the 5th largest globally (US $4.5 trillion) but its weight in global indices is still low at 1.6% (10th rank), foreign brokerage, Jefferies said in a report.
The market benchmarks extended their gains into the fourth consecutive session.
At close, the Sensex was down 523 points or 0.73 per cent at 71,072.49, and the Nifty was down 166.50 points or 0.76 per cent at 21,616.
With India’s market cap touching $4 trillion and the market cap GDP ratio climbing to 1.2, valuations are getting stretched, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
This week is likely to be volatile but a rally is likely soon. FIIs have already turned buyers. FII and DII money flows can trigger a large-cap led rally, says V K Vijayakumar,
Drugs and pharma exports grew by 29.31 per cent to USD 2.42 billion from USD 1.87 billion in October 2022. Engineering goods exports record a growth of 7.2 pc from USD 7.55 billion in October 2022 to USD 8.09 billion in October 2023.
The market is likely to witness a major rally before the next Samvat, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Market history tells us that sharp up moves in the market happen at unexpected times. It appears that this truism is turning out to be true
