Markets Gearing Up To Reach New Highs

FPIs invested ₹43,838 crore in the Indian domestic markets in May

India has restored its ranking as the fifth largest stock market in the world, while the BSE Sensex has touched the crucial 63,000 threshold with Morgan Stanley predicting it would reach 68,500 points by December.
 

India reclaimed its position as the fifth-largest stock market in the world as the domestic market strengthened as a result of the deal to raise the US debt ceiling and market valuation grew to USD 3.3 trillion. The benchmark BSE Sensex reached the critical 63,000 threshold while Morgan Stanley predicted that the index will hit 68,500 points by December, marking a 10 per cent rally from its current level. On the other hand, the Monetary Policy Committee (MPC) of the Reserve Bank of India decided to maintain the repo rate at 6.5 per cent at its monetary policy meeting.