Share Market Insights
The share market opened on a positive note in the beginning of the day Whereas SENSEX near 58000 and nifty goes above 17000. The present market signals indicates that the worst of the banking crisis is behind us. The stock price of European banks also are better indicating that there are no fears of rumours now. But investors have to be careful since there is some element of uncertainty even after this apparent return to stability. There is a level of certainty regarding growth prospects. The global economy is slowing down; but Asia, particularly India, will outperform. India’s banking system is well regulated, strong and flexible. This period of uncertainty and volatility is the right time to build a good portfolio. High quality stocks with reasonable valuations and good earnings visibility can be buildup now. Valuations of IT shares have become reasonable even though the segment will face headwinds from the US slowdown.
At end of the time of market Indian stock market ended in the red zone, with Adani shares down 0.2% on the Nifty. Most stocks bound in the red. IndusInd Bank, UPL and Dr Reddy’s advanced, while Adani Stock, TechM and Hero MotoCorp turn down. Auto, media, metal and realty have the biggest reduction. We can say that today’s Index is bearish to neutral today.