Nifty at 10000

Nifty reaches 1000 today at the open for a brief period and then declines. From 1000 to 10000 in 23 years. Though the markets are expected to correct going forward, reaching a new high which is a psychological level, means not only celebration, it brings more confidence that the markets are not tired and will have more rally in the future.

Mark Mobius said a couple of months back that, in June this year Nifty will reach 10K, it took a little extra time to make 10K a reality. More upside is awaited, though it is not going to be a smooth journey.

Govt disallows driverless cars

 

A very good gesture by the government giving emphasis on employment. On one side where technology is taking off jobs, these cars would mean lakhs of people will be rendered jobless, as the country is now got used to Uber’s and OLA’s. A clear message that, employment is high priority while at the same time a big blow to the tech companies, as automation will take back seat.

 

So long as employment is there, economy will thrive, while with automation only already deep pockets will get loaded with cash and that money will come back in the form of discounts and cash burning. When people have money, they spend for their livelihood and the economy thrives.

Though the minister Mr. Nitin Gadkari has indicated that, “Maybe some years down the line we won’t be able to ignore it but, as of now….we shouldn’t allow it”. Till the time it takes to become adaptable, it is chance for the people who are threatened by this technology advancement to save and ensure that they are not disrupted. If they don’t do that, it will be a more bigger pain as, once getting used to higher spending and then if there is joblessness, it will be suicidal.

Government is taking all steps to ensure the economy thrives. Good signs. On this day Nifty reaches 10000, history created.