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So, I understand they have room to cut, but I think broadly, all they have is about 150 basis points, that is all there is on the table. Now, my sense is they will take next six meetings to do a 25 basis point each if the data continues to be favourable and stop somewhere at maybe 3, 3.5, so that is broadly the best the market can expect. We are not going back to zero days and I think there are a lot of reasons that we can discuss about.

Market expert Ajay Bagga noted that Fed Chairman Jerome Powell reassured the market by signaling readiness to cut rates due to labor market concerns. With rate cuts almost certain by September, bond yields dropped, stocks rose, the dollar weakened, and gold prices increased. This was expected amid the substantial fiscal deficit buffering economic errors.

Further, the US Fed is of the view that it is an appropriate time to adjust its policy, as over the longer-term, the US inflation rate could further ease towards the 2% mark.

Rajeev Agarwal from DoorDarshi India Fund discussed the potential impact of anticipated rate cuts by the Fed and the RBI on the economy. With reduced inflation and strong agricultural output, India is well-positioned for a rate cut. The banking and finance sectors are highlighted as promising due to good asset quality and capital adequacy.

The NSE Indices Committee revealed its September 2024 adjustments, impacting indices like Nifty 50, Next 50, Nifty 100, and Nifty Bank. Notable changes include Trent and Bharat Electronics joining Nifty 50, while Divis Labs and LTI Mindtree exit. These modifications will cause considerable inflows and outflows for the involved companies.

So, there are two plays. One, what has driven the speculative move in commodities? Has it been more about the dollar carry trade or the yen carry trade? So, it is a mixed picture. So, we cannot conclusively say at a time when China continues to slow down drastically and oversupply from China is coming into various commodity markets globally, the bigger impact is on chemicals, steel, etc. But in other metals also the impact is there. I do not expect a big rally in metals at this stage.

A long buildup, marked by rising open interest, trading volumes, and stock prices in Futures and Options, signals a bullish trend. On Monday, five stocks saw new long positions.

So, I would think that absolute potential in many of these stocks could be low from here on. And if the rupee also follows the decline of the dollar and actually appreciates, in that context that support could also reduce.

Shares of Interarch Building Products fell nearly 7% to Rs 1,203 on the BSE following a strong debut on Monday. The stock was initially listed at Rs 1,291.20 on the BSE, reflecting a 43.5% premium over the IPO price of Rs 900, and at Rs 1,299 on the NSE, marking a 44.3% premium.

The Tata Group company’s stock has risen 129% this year, ranking it No. 3 on the Bloomberg World Retail Index, on a winning strategy in affordable apparel. The gains may extend after news Friday that Trent will be included in India’s benchmark NSE Nifty 50 gauge next month.