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Indian IT stocks continued their rebound on Tuesday, with the Nifty IT index posting gains for the second straight session. Broad-based buying lifted both large- and mid-cap stocks, driven by renewed sector optimism.
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InCred Asset’s Aditya Sood suggests Indian markets are poised for a comeback, hinging on earnings growth. Despite recent flat returns, potential US Federal Reserve rate cuts and a favorable bond spread create a supportive environment. Sood is cautiously optimistic, favoring healthcare, rural-focused consumer stocks, and select IT firms like Infosys for steady compounding.
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September’s crypto market shows cautious optimism. Key picks include AERO, PUMP, LDO, ETH, and ETHFI, driven by adoption, staking growth, ETF inflows, and real-world utility, offering varying risk-return opportunities.
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Dev Accelerator’s Rs 143.35 crore IPO was fully subscribed within hours on Day 1, driven by strong retail demand. The company’s shares are trading at a grey market premium of 13%, highlighting robust investor interest in the flexible workspace solutions provider ahead of its September 12 subscription close.
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Economist Ed Yardeni suggests the Fed’s September rate cut hinges on upcoming inflation data; hotter data points to a 25 basis point cut, while cooler data could prompt a 50 basis point reduction. He cautions lower rates won’t solve labor shortages and might inflate the market. Yardeni also highlights India’s strategic importance amid global trade uncertainties.
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