The top performing market in September is India

According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, India had the greatest big market performance in September with gains of 4.2%.

With a stunning 4.3% increase in Bank Nifty, this surge to record highs that broke the crucial 20000 level on the Nifty was made possible, he added.

Strength in financials, especially the banks, may keep the Nifty resilient since financials make up 32% of the Nifty’s weight. More significantly, current banking stock values are reasonable. Even while market values as a whole are gradually climbing over acceptable levels, the market may still be resilient because to the strength in the banking sector, he continued.

US inflation numbers provide a contrasting image. While the August CPI inflation data came in at 3.7% compared to estimates of 3.6%, core inflation came in at 4.3% as anticipated. Therefore, the market believes that the Fed will probably halt in September.

According to Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, Nifty once more held the 19950 zone and experienced a respectable gradual rise during the intraday session to close above the 20000 mark for the first time, significantly improving the bias and sentiment in anticipation of further growth in the upcoming days.

To relieve market participants, the wider markets recovered dramatically from their lows, and a further upward movement is predicted. According to Parekh, the resistance for the day is at 20200 levels and the support is at 19950 levels.

On Thursday morning, the BSE Sensex is up 26 points at 67493 points. Tata Steel has increased by more than 2%.