The global market is focused on the Fed's rate cut in September, and the overall market sentiment is slightly cautious ahead of the non-farm payroll data this week.

Yesterday, the U.S. stock market was closed for Labor Day, and European, Japanese, and South Korean stocks performed flat today.

Previously, under the panic of the "U.S. economic recession", the global market experienced a major shock, especially the U.S. and Asia-Pacific stock markets.

However, in this round of storm, the Indian stock market, as one of the most important emerging markets, has been a unique presence. It not only smoothly weathered the "panic" in July, but also showed a particularly strong upward trend in the past month.

Since the end of August, the Indian stock market has risen for multiple consecutive days, and yesterday it hit a new all-time high during trading hours. This is also the longest upward trend in history.

Today, the Indian stock market continues to stabilize near its historical high. The Indian Nifty 50 index and the Sensex 30 index are relatively stable.

As of the close, the Indian Nifty 50 index rose slightly to 25,279.85 points; the Sensex 30 index fell slightly by 0.01% to 82,555.44 points.

From the beginning of the year to the present, apart from the severe volatility during the Indian general election in June, the Indian stock market has maintained a strong upward trend.

In the year, the Indian Nifty 50 index has accumulated a gain of over 16%, and the Sensex 30 index has accumulated a gain of over 14%.

India is now the most expensive major stock market in the world, with its expected P/E ratio even higher than the technology-dominated US market.

Analysts at Bernstein believe that, at the simplest level, India is both a low-cost manufacturing base and a rapidly growing source of demand.

In recent years, India's GDP has maintained a high growth rate of over 6%, making it the world's fifth largest economy.

Data released last Friday showed that the actual GDP for the first fiscal quarter of the 2024-25 financial year in India reached 43.64 trillion rupees, a year-on-year growth of 6.7%, slightly lower than the expected 6.8%.

Benefiting from demographic dividend, huge consumer market potential, and tax reforms, India's economy has been growing rapidly, injecting strong momentum into the stock market.

Earlier this year, the IMF predicted that by 2025, India's nominal GDP will reach $4.3398 trillion, surpassing Japan ($4.3103 trillion) and becoming the world's fourth largest economy.

It is worth noting that the World Bank has recently raised its forecast for India's economic growth for the current fiscal year from the earlier estimate of 6.6% to 7%.

The World Bank has stated that India's mid-term economic growth rate for the next two fiscal years will remain at a strong average of 6.7%, with expectations that private investment will gradually enter and help drive consumer recovery.

As for the Indian stock market, the overall market remains bullish.

Sujan Hajra, Chief Economist and Executive Director of Anand Rathi Securities and Stock Brokerage, expects a GDP growth rate of 7% for the current fiscal year, with inflation expected to continue to support the Indian stock market by declining.

Herald van der Linde, Stock Strategy Director for the Asia Pacific region at HSBC, and his team have stated that the Indian stock market is currently hot, but there are still ten risk factors.

These risks do not immediately pose a threat, but if they accumulate, they may become dangerous.

However, they will continue to increase their shareholding in Indian stocks, because even with the existence of risks, India's emerging market still has the strongest growth rate.

Morgan Stanley economists stated in a report that the future economic growth of the United States and the Federal Reserve policy will be key factors affecting the macroeconomic prospects of Asia in the coming months.

The basic forecast is for a soft landing of the US economy, with the Fed cutting rates by 175 basis points by mid-2025.

The institution forecasts that the GDP growth rate in Asia will remain around 4.3% in the next four quarters, and holds an optimistic view on India, Japan, Indonesia, and South Korea.