Indian equity markets shine bright amidst global uncertainty
Indian markets are flirting with all-time high levels, with the Nifty index close to reaching its all-time high.
Broader market breadth is improving, and stock-specific actions have begun.
India VIX, a measure of market volatility, suggests a benign environment with a value of around 12.
World markets are still settling after a steep fall in March 2023. S&P and Dow Jones are in a consolidation phase, while NASDAQ is outperforming after a decline.
The Nifty index in the Indian market is showing positive momentum, with charts suggesting further upward movement.
Inflation is around 5%, and interest rates have reached levels similar to those in 2007.
Leading indicators such as copper and crude prices suggest a slowdown and the possibility of a recession in the western part of the world.
Risks that could spoil the positive market sentiment include weak monsoon, the DXY (Dollar Index) rising above 106, recession or depression in the rest of the world