ICICI Direct
June 8, 2025 at 10:14 AM
*📈 RBI Policy Boosted Market Sentiment!*
🔸 Equity benchmarks resumed their uptrend after a two-week breather, with Nifty closing at 25,000, up 1%.
🔸 Broader markets outperformed again, gaining 3% each.
🔸 Rate-sensitive sectors, such as realty and BFSI, led the charge, followed by defence and metals.
🔸 Nifty rebounded from 24,500 as the 50 bps repo rate cut lifted sentiment.
🔸 Bank Nifty hit a fresh all-time high after a six-week pause.
*🔍 What to Expect*
🔸 The shallow correction followed by a rebound confirms the ongoing bull market.
🔸 Nifty is likely to test 25,100 and may head towards 25,500.
🔸 Any volatility—especially from geopolitical cues—should be seen as a buying opportunity.
🔸 Support remains firm at 24,500.
*📊 Broader Market*
🔸 Nifty500/Nifty100 ratio continues to rise, reflecting strong breadth.
🔸 About 55% of Nifty 500 stocks now trade above their 200-day SMA (vs 30% a month ago)—a positive sign for trend durability.
*🥈 Silver*
🔸 Silver broke out of a seven-month consolidation and closed above $35.50 for the first time since 2012.
🔸 Expect the rally to extend to $38 in the coming weeks.
*📌 Key Monitorable*
🔸 US & India inflation data
🔸 FII inflows
🔸 Weakening USD index and Brent crude
🔸 India–US Bilateral Trade Agreement
Disclaimer: bit.ly/full-disclaimer
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