India’s equity indices, the Sensex and Nifty had faced a downfall of 75 points as of 14th June 2023, due to the weak global markets, with the major decliners being, financials and banks. Although there had been a significant recovery of this in recent times, the global decline of financial growth in peer countries such as China, had greatly impacted this downfall in the Indian Stock market. Adani’s transmission and a decline in and Adani Total Gas has seen a massive decline.
The Sensex pack which includes Axis Bank, SBI, HDFC etc has faced a fall of 2%, whereas the pharmaceutical and industrial sectors like TATA, Sun pharma, Airtel etc has gained in their equity shares.Vinod Nair, Head of Research at Geojit Financial Services has said “"As indicated by multiple economic data points, the Indian economy is presently experiencing a robust recovery, leading to an upward trend in domestic equity markets. However, the rally is being hindered at times due to negative signals from global peers, as observed today,"
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