The global set up is positive today morning, The Dow Jones gained 1 percent for the seventh day in a row.The Asian market picture is broadly higher. The Nikkei is up more than a percent, the Taiwan, South Korean markets are also in the green. But Hang Sang continues to remain under pressure.As the economic data from China over the weekend has been downbeat, it is putting pressure on the growth expectations. The GIFTY Nifty is also suggesting a higher start today.Yesterday, the markets opened up pretty well. The Nifty Bank was at an all-time high level, the mid cap index notched up a record, the small cap index was at an 18-month-high. But then some profit booking set in in the second half of the trading session and the markets were consolidating. Experts we have spoken to indicated that this is not a trend reversal. It’s just healthy time correction, profit booking, which happens after a fantastic rally, which we have witnessed over the last couple of days.

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19 Jul 2023