Location & Language

Zenfinex Global Limited regulated by the Financial Services Authority (FSA) of Seychelles (SD092)

Political Shifts Propel Indian Markets to New Heights

By Samir Al Khoury,

There is no doubt that Indian markets have been affected by the overwhelming political atmosphere in the recent period. We witnessed a record rise in the Nifty 50 index, reaching 23,338 points on Monday, June 3, 2024, following expectations that Indian Prime Minister Narendra Modi would secure a majority of parliamentary votes. Contrary to these expectations, the Nifty 50 index fell to its lowest level since January 25, 2024, on the day of the election results, recording 21,281 points after Modi lost a significant number of seats.

However, due to political alliances formed by Modi for the first time since he took power in 2014, the Nifty 50 index rose again, reaching 23,230 points today.

India is considered the third-largest economy in Asia after China and Japan in terms of gross domestic product (GDP), which currently stands at about 3.5 trillion US dollars. The consumer price index (CPI) on an annual basis in India recorded 4.83% in April, which was higher than expectations (4.80%) but still far from the Reserve Bank of India’s target rate of 4%.

Regarding Indian stocks, the Nifty 50 index has risen by about 10% since its low on January 24 this year, when it recorded 21,137 points, to the peak recorded last Monday at 23,338 points. The index is currently hovering near the 23,200-point level. The GOLDEN CROSS between the 50-day moving average (in blue) at 22,475 points and the 200-day moving average (in yellow) at 21,146 points remains in place, indicating upward momentum for the Nifty 50 index.

Despite Indian stocks reaching record levels, along with high earnings multiples of about 20 times, it appears that the upward trend for Indian stocks will prevail in the next stage, especially with the expectations of continued foreign investment flows into Indian markets.

Please note that this analysis is provided for informational purposes only and should not be considered as investment advice.

Taurex is the trading name of Zenfinex Global Limited, Stochastic Africa SL Ltd, Zenfinex Global LLC, and Zenfinex Limited.

Zenfinex Global Limited is registered in the Republic of Seychelles with registration number: 8428731-1 and is regulated by the Financial Services Authority of Seychelles (license number SD092). Its registered office address is F20, 1st Floor, Eden Plaza, Eden Island, Seychelles.

Stochastic Africa (SL) Limited is a company registered in Sierra Leone with Company Number: SL270319STOCH05271 and is licensed by the Bank of Sierra Leone under license number BSL/SAL/2023 and with the registered office at 148D Wilkinson Road, Freetown, Sierra Leone.

Zenfinex Global LLC is a company registered with the Financial Services Authority in Saint Vincent and the Grenadines under registered number 138 LLC 2019. Its registered office is Hinds Building, Kingstown, Saint Vincent, and the Grenadines.

Zenfinex Limited is a company registered in England and Wales under registered number: 11077380. Authorised and regulated by the Financial Conduct Authority under firm reference number 816055. Its registered office is 4th Floor, 4 Eastcheap, London, EC3M 1AE, United Kingdom.

*All trading involves risk.


Popular Posts

US Treasury Yields Fall Significantly on Anticipation of Interest Rate Cuts

TAIEX Rises with TSMC’s Growth and Strong Economy in Taiwan in 2024

The most important events of the past week

Korean KOSPI Index Reaches New High

Lorem Ipsum

Lorem ipsum dolor sit amet, consectetur adipiscing elit.

Here are some related articles you may find interesting:

Market Insights​

July 18, 2024

US Treasury Yields Fall Significantly on Anticipation of Interest Rate...

By Samir Al Khoury, US Treasury bond yields across various terms fell significantly, with the two-year bond yield reaching 4.411% two days ago, its lowest...

Market Insights​

July 16, 2024

TAIEX Rises with TSMC’s Growth and Strong Economy in Taiwan...

By Samir Al Khoury, On Thursday, July 11, 2024, Taiwan's TAIEX index surged to 24,416 points, marking its highest level ever. Today, it closed slightly...

Market Insights​

July 15, 2024

The most important events of the past week

By Samir Al Khoury, United States of America • The headline CPI fell year-on-year, recording 3.0%, which is lower than expectations (3.1%) and the previous...

Market Insights​

July 11, 2024

Korean KOSPI Index Reaches New High

By Samir Al Khoury, The Korean KOSPI index recorded 2,896 points yesterday, marking its highest level since 18 January 2022. This index has risen approximately...

Ready to Elevate Your Trading Journey?

Open a Taurex account and start trading today.

We’re Sorry

Access to tradetaurex.com
is unavailable in your region

tradetaurex.com is required to abide by global laws and therefore the information on this site is not directed at residents of the United States, Canada, North Korea, Iran, Myanmar, Belgium, Spain, France, Japan, South Korea or any particular countries and is not intended for distribution to, or use by, any person in an country or jurisdiction where such distribution or use would be contrary to local law or regulation.

This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.