Uday Kotak of Kotak Mahindra Bank, warns investors should brace for potential global turbulence ahead as the US inflation print has come higher than expected which could delay the US Fed rate cuts.
Indian IT stocks faced a downturn in today s trading session due to higher-than-anticipated US consumer inflation data released yesterday, raising concerns about the Federal Reserve s ability to implement multiple rate cuts this year.
The three major U.S. stock indexes were already weighed down by weakness in tech and tech-adjacent megacap stocks the day after disappointing Alphabet results.
The Nifty 50 achieved remarkable milestones in 2023, breaking through the 19,000 level in June and reaching 20,000 in September. On December 08, it soared past the 21,000 mark, culminating in a record high of 21,492 points over the next five trading sessions.