Indian Stocks at Record High as Low Rates Aid Risk-Taking

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Indian Stocks at Record High as Low Rates Aid Risk-Taking

Bloomberg2021-08-03

Nifty 50 index breaches 16,000-level for the first time. Central bank expected to keep policy rate at record low Friday. India’s main stock indexes closed at a record high as investors bet that Asia’...

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ChrisTT
·2021-08-03
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Slee49
·2021-08-03
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The latter is the 12th-highest gainer among almost 100 global indexes tracked by Bloomberg over the past year.\nThe run-up in stocks comes before the central bank’s monetary policy decision Friday, where interest rates are expected to be left at an all-time low even as inflation accelerates. The upswing factors in expectations of future growth as central banks around the world take steps to protect their economies, Indian Finance Minister Nirmala Sitharamantold parliamenton Tuesday.\n\n“We are seeing a lot of indicators of economic recovery,” said Vinay Khattar, head of research at Edelweiss Wealth Management Ltd. “We are advising clients to stay invested in equities and if there is any decline, it should be used as an opportunity to buy.”\nNSE Nifty 50 Index gained 1.6% to close at 16,130.75 in Mumbai on Tuesday, while the S&P BSE Sensex rose 1.7% to 53,823.36.\nIndia has seen a surge in first-time investors, willing to buy riskier assets as returns from bank deposits and traditional savings avenues dip. 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