Nifty 50 Index

Here are the most recent updates for investors about stocks that are popular this Thursday.

India's stock market capitalisation has reached $4.3 trillion, making it the fourth-largest market in the world, surpassing Hong Kong.

Bernstein Research has taken a neutral view on the Nifty 50 index, which is India's main stock market indicator. This decision is made in a complicated investment situation, influenced by both global and local factors that affect market feelings and investor plans. Bernstein believes that the Indian stock market is currently fully valued, leading to their neutral position on the Nifty.

Investing.com reports that the Reserve Bank of India has decided to keep interest rates the same, which was anticipated. They also emphasized their commitment to reducing supportive policies in order to lower inflation.

Investing.com -- On Tuesday, India's Finance Minister, Nirmala Sitharaman, revealed a major increase in the Securities Transaction Tax (STT), raising it from 0.01% to 0.02%. This change will significantly affect Futures and Options (F&O) traders, as they will now have to pay a much higher tax on their transactions. Following this announcement on July 23, the market responded quickly, with the Sensex and Nifty indices both falling by more than 1% in the afternoon.

Investing.com reports that the Reserve Bank of India decided to maintain interest rates on Friday, as anticipated. However, it did raise its annual growth prediction for the Indian economy due to ongoing strong consumer spending.

Officials from the Federal Reserve have cautioned against expecting a change in policy in the near future, as they are waiting for inflation to decrease enough. It is uncertain when this will happen.

Investing.com reports that Indian stocks dropped significantly from their record highs on Tuesday, undoing most of the gains made the day before. This decline came as early vote counting in the important 2024 general election showed that the BJP's victory was not as large as anticipated.

According to analysts from CLSA, India's main stock index, the Nifty 50, is expected to rise in the next few months. They noted that historical trends show the index tends to do well during election years.