All About Stocks 09-03-2023
Indian markets are likely to open unchanged, tracking global cues. Indian stocks fell for the first time in four sessions after domestic shares gained in the previous three sessions, defying weakness in global markets.
Indices struggle on Thursday as Sensex sheds 540 points and Nifty around 160 points with most sectoral indices ending in the red
Indian stocks fell on Thursday as heavyweights like Adani Group and Reliance lost in today’s session. The decline comes after domestic stocks gained in the previous three sessions and defied weakness in global markets. The Nifty ended below 17,600, at 17,589, a loss of 165 points.
Heavyweights like Adani Enterprises, Reliance and M&M were down 4%, 3% and 2% and were the biggest drags on the markets, while Tata Steel, L&T and Apollo Hospitals were among the top gainers in today’s session. Metals were the only sector to finish in the green.
Asian stock markets were mixed on Thursday after Wall Street steadied on fears of further US interest rate hikes.
India’s share of global market capitalization is lowest since April 2022
Calendar year 2023 has been a bumpy ride so far for the Indian stock market. First, the decline in Adani Group shares dampened investor sentiment. This could spell more pain for equity markets, including India. In this blog I observe that most of the key commodities such as palm oil, linear alkylbenzene (LAB) and palm fatty acid distillate (PFAD) peaked in Q1 2323 and were subsequently on a downward to stable trajectory. For many categories, the anniversary part of the price increase is now starting to appear.