The Indian markets ended last week 1% up, the second week of a positive closing. Even the US, which saw markets falling by 20% this year so far, were up 4% last week.
Investors have been hoping to see a peak in inflation, and seek value at those levels
There’s a lot of terming for this market to have been ‘oversold’
The Fed appears poised to raise rates by 50 basis points over the next two months, which is in-line with expectations, and not higher on aggression
Retail earnings in the US suggested strong consumer spending despite inflation. This is a key positive since 70% of the US economy is dependent on consumers.
Excise duty on petrol and diesel were reduced. While this appears to reduce the weight on consumers, it is a mere shift of baggage from people to the fiscal budget.