Positive global cues boosted Dalal Street this week — the market closed 9 percent higher to see its biggest monthly rise since November. The rupee also witnessed its biggest one day gain in a year, while the US Fed Reserve hiked rates by 75 basis points as expected.

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Gautam Shah, Founder & Chief Strategist at Goldilocks Premium Research, said, “It is too early to say that it is a start for bull market. But definitely I want to believe that the bear market has ended. After every bear market ending, you see a phase of consolidation within a large range.”

He added, “For me capital goods, FMCG, and auto are the sectors where you commit into on every small dip and those dips will come sometime in August.”

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Also Read: US Fed raises rate by 75 basis points — first back-to-back hike since the 1980s

First Published:Jul 29, 2022 6:11 PM IST