The market may see some volatility in the short term ahead of RBI MPC meet next week. For the short term, analysts recommend betting on stocks that look healthy on technical indicators.
Sensex and Nifty have been correcting after hitting record highs due to softer Q1FY24 earnings of heavyweights like Infosys and Reliance Industries. Investors are cautious ahead of the US Fed meeting outcome on July 26.
The Nifty50 and Sensex reached new all-time highs on Monday, driven by sustained capital inflow from foreign portfolio investors and positive economic outlook.
After suffering losses in the previous session, the Sensex and the Nifty traded with gains in the morning trade on Monday, July 10. Analysts expect the benchmarks to see some consolidation as they trade at record high levels.
Eicher Motors share price: Shares of Eicher Motors have declined due to increased competition in the motorcycle market. The stock has been under pressure since the debut of the X440, a direct competitor to Eicher s upcoming Royal Enfield Hunter 450.