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INDIA STOCKS-India s Nifty 50, Sensex inch towards record highs; broader indexes outperform

BENGALURU, June 19 (Reuters) - India s Nifty 50 and Sensex stock indexes advanced on Monday and inched towards fresh record highs, aided by broad-based gains, while broader peers extended their rally to record .

Gold prices are expected to be range-bound next week; support zone seen at $1920-$1930

Gold closed the week with a minor loss of 0.10% settling at $1958 amidst a data and event-heavy week. The US Dollar Index closed with a weekly loss of over 2% at 102.30. The Federal Reserve held interest rates as expected in its FOMC meeting but projected a terminal rate projection for 2023-end at 5.60%, higher than the previous projection of 5.10%, indicating its intention to hike the rate twice more this year. The ECB hiked the deposit rate by 25 bps and the Bank of Japan maintained its ultra-easy monetary policy. Next week, investors will look forward to Federal Reserve Chair Powell s semiannual monetary policy.

The Opportunity In The Forgotten Part Of The Stock Market

A forgotten part of the stock market, midcap stocks, has recently seen a revival after a moribund period. Midcap stocks have outperformed the S&P 500 over the long term, and the current relative valuation makes an allocation more attractive.

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