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In the past, it has been observed that the Nifty rallies 20%, on average, after breaching its all-time high. Barring Nov 2010, all breaches have generated positive returns over the next 12 months," said Amar Ambani, Head of Institutional Equities at YES Securities.

“Every theme gets its year, IT got last year and value got this year. It could be momentum or growth next year but I do feel the problem is that a lot of the value stocks have become overvalued simply because we forget that the government is the owner of a lot of the PSUs and PSU banks.”

In the previous session, the S&P BSE Sensex rose more than 400 points while the Nifty50 reclaimed 18,400 levels.

As widely expected, the BOJ kept unchanged its yield curve control (YCC) targets, set at -0.1% for short-term interest rates and around zero for the 10-year bond yield, at a two-day policy meeting that ended on Tuesday.

On whether he is more bullish on the market now than what he was in the beginning of 2022, the fund manager said his team spends very little time on thinking about the direction of the market.

IDFC First Bank, incorporated in the year 2014, is a banking company (having a market cap of Rs 38931.48 Crore).

“Economic data indicates a slowing economy and declining inflation which implies that the Fed is close to pausing on rate hikes. Confirmation of this trend can lead to revival in equity markets,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said. Economic and market indicators suggest that India’s outperformance can continue in 2023 too, Vijayakumar added.

Hindustan Aeronautics key Products/Revenue Segments include Sale of services, Engineering Goods, Spares And Others, Development Projects, Miscellaneous and Other Operating Revenue for the year ending 31-Mar-2022.

“This fund is very different from some other funds because we can play multiple sectors, multiple commodities and we can also play up cycle and down cycle in commodities. For example, if one is positive on oil, one can buy upstream. If one is negative on oil, one can buy OMCs.”

Nifty futures on the Singapore Exchange traded 31 points, or 0.17 per cent, lower at 18,456, signaling that Dalal Street was headed for a negative start on Tuesday.