A recent drop in foreign exchange reserves to $640.33 billion, a six week low, shows the central bank has been selling dollars amid conflict in the Middle East and delayed expectations for rate cuts by the U.S. Federal Reserve.
Radhika Gupta of Edelweiss MF highlights the re-rating of India’s stock market, particularly noting the potential in consumption stocks despite their higher PE multiples. She
Now, once the dip gets bought into, we feel the turnaround could take us to 24,000, 24,200 over the next 8 to 10 trading sessions
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