Key Points
Nifty has been struggling to break the upper end of 18300-18600 range, but now the market construct favours a breakout..
Globally, the market backdrop is favourable with both US and European markets consolidating and slowly gaining strength..
Markets believe that the June Fed decision will be a pause..
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From worst to best: How India paved the way for FIIs to return, fighting all odds
06, Jun, 23After being downgraded to neutral earlier in the year, India has rebounded and is now one of the top-performing emerging markets thanks to its encouraging GDP data, which has cemented its position as one of the fastest-growing economies globally. Strong earnings growth prospects, combined with swelling bids from both domestic and foreign investors, make Indian equities an attractive investment opportunity, despite rich relative valuations, according to Ridham Desai, managing director, Morgan Stanley India. Foreign portfolio investors have poured in more than $6.8bn into Indian markets since March.