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Nifty to see gap down opening of 100 points

Sumary of Nifty to see gap down opening of 100 points:

  • The domestic markets are likely to open weak, as global stocks are yet to recover from the rate-hike announced by major central bankers.
  • Following the US Fed 75 basis points increase in interest rate, the Bank of England has increased its interest rate by 50 bps, the second consecutive half-point hike, and the Swiss National Bank has raised interest rates by 75 basis points.
  • Overall, we recommend investors are prudent in their equity allocation strategy.
  • However, with interest rates rising globally and the global growth environment becoming more challenging, equity valuations could come under pressure, they added.

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