The market outlook for Brand India on the first day of January presents a promising future.
The Nifty, a key stock market index, had a strong performance in December 2023, ending the month at an all-time high above 21700. The equity market participants had a significant year in 2023, with the Nifty starting an uptrend and posting monthly gains of almost 8 percent.
As the market enters the new year on an optimistic note, the immediate support for the Nifty is around the 21550-21450 range, and the outlook remains positive.
The Indian rupee’s direction is also influenced by the U.S. Federal Reserve’s interest rate outlook and the Reserve Bank of India’s actions at the beginning of 2024.