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The change was stark and significant. There was a clearly laid out direction in which the regulatory framework to be headed. There was a recognition of the importance of market participants’ views and their issues. There was focus on logic and data behind regulatory changes. And there was an acknowledgement that the role of regulators goes beyond regulating, to nation building.

"Nifty Bank has outperformed Nifty with a healthy margin recently. YTD, Nifty Bank has risen 15% against 1% rise in Nifty. The technical setup of Nifty Bank is much stronger than Nifty. Indices like IT and Pharma have been dragging Nifty’s performance while participation of PSU banks have helped Nifty Bank to become one of the best performing sectors."

“In the case of chemical companies, in certain instances, we are seeing that the gross block build up that many of these companies are seeing that over the next three to five years is going to be so much that it will add nearly 2x to their current asset base.”

Stock listings in Asia have raised $104 billion this year, accounting for a record 68% of global volume, data compiled by Bloomberg show. By contrast, US IPOs represent just 14% of the $153 billion fetched globally, the lowest ever for what has traditionally been the busiest listings market in the world.

NSDL data shows that till September 16, the FIIs bought stocks worth 12,084 crore through exchanges but they are turning sellers in the cash market in the last few days. On Friday itself, foreign investors sold equities worth around Rs 3,260 crore, which analysts said was the prime reason behind the 1,093-point crash as domestic institutional investors sold stocks only worth Rs 36.57 crore.

US university of Michigan consumer sentiment data also showed improvement in inflation expectations. 1-year inflation expectations dipped from 4.8-4.6 per cent while 5-year inflation expectations eased from 2.9-2.8 per cent. 1-year inflation expectations topped near 5.4 per cent.

“There are certain pockets where India stands out compared to global peers. We are clearly playing out something we are calling the three Cs theme – the credit growth, consumption and capex theme. Clearly the India systematic loan growth or credit growth has picked up. In August, RBI data suggested 15.5% credit growth and that is the highest in the last nine years.”

"NFOs do not have an established expense ratio, an established portfolio constituent, an established track record. I do not know the behaviour of the fund manager in that specific scheme. So what is the merit of going for NFOs, I cannot fathom. I would not be an investor in NFOs unless it stands out and there is no other fund which can actually be in the same category or at least a fund which can compete."

Fed rate hike only 60% of the time leads to a recession, normally from the start of a Fed rate hike12 months, 24 months the markets tend to do well, in fact the market peaks around the 24th month and on average in the 30th month is when the recession strikes. So by that logic on average there could be expectation of a 2024 recession not for next year which is good news.

The weekly RSI is 56.40; it stays neutral and does not show any divergence against the price. The weekly MACD is bullish and stays above its signal line. No notable and important formations were seen on the candles.