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Gold prices surged over 1% on Monday, fueled by a weaker dollar and renewed trade tensions sparked by U.S. Treasury Secretary Scott Bessent's reaffirmation of President Trump's tariff threats. Spot gold reached $3,247.40 an ounce, while U.S. gold futures hit $3,251.90.
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In April, mutual fund managers adopted a cautious approach to stock purchases. Geopolitical tensions between India and Pakistan, along with US-China trade war uncertainties, influenced their decisions. Fund managers selectively bought stocks in capital goods and power sectors, focusing on those with significant price corrections.
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Nifty is poised for further gains, driven by easing geopolitical concerns and robust FII inflows, targeting 25,200-25,800 if it holds above 24,800. Midcaps and smallcaps are outperforming, indicating strong risk appetite. Metal and PSU sectors show breakout potential, with specific stock recommendations including SAIL, Tata Steel, HDFC AMC, and Eternal.
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