News

Published: Mar 31, 2023
Updated: Mar 31, 2023

US Markets Surge as Investors Remain Bullish on Tech and Banking Sectors

In a much-needed relief for investors, the US markets have rallied with all major indices up by 0.5% and touching their highest levels since March 7. The Nasdaq has led the charge, advancing to 12,013 points as tech stocks continue to see renewed investor interest.

Tech Index Nasdaq Enters a Bull Market

Traders believe that the banking sector has stabilized, and the Federal Reserve has stopped quantitative tightening. Furthermore, mega-cap tech leadership, renewed disinflation momentum, and signs of consumer resilience are also at play. The tech index Nasdaq has entered a technical bull market after rallying 20% from its October 22 lows.

Gold Prices Surge While Brent Crude Oil Drops

Investors have also seen a significant uptick in gold prices, which have increased by 8.51% since the beginning of 2023. However, the same cannot be said for Brent crude oil, which has decreased by 8.16% since the start of the year.

Technology sector major contributor to the rally

The positive global sentiment has impacted Indian markets, with the Nifty50 and Sensex trading higher at the time of writing. The technology sector has been the major contributor to this rally, with stocks such as Infosys, Wipro, and TCS trading at all-time highs. The banking sector has also shown signs of improvement, with stocks such as ICICI Bank and HDFC Bank trading positively.

Positive Impact on Indian Markets

The global market sentiment remains bullish as investors remain optimistic about the tech and banking sectors. While the US markets have rallied, the impact has been felt globally, including in Indian markets. However, it is important to note that market trends are subject to change and investors should remain cautious and vigilant in their investment decisions