Markets slide on global sentiment
Market’s in my view had more or less factored in TDP’s exit from the NDA after its Ministers’ exit from the Union Cabinet and the vociferous disruption of the ongoing session by its MPs of both the Houses of Parliament. BJP’s shock defeat in the UP by polls and the prospect of SP and BSP forming an alliance in 2019 polls and it’s likely adverse impact on BJP’s tally from UP in 2019 is what has got the market concerned, Ajay Bodke, CEO & Chief Portfolio Manager PMS Prabhudas Lilladher told FE Online.
The Sensex declined 509.54 points, or 1.51 per cent, to close at 33,176. The Nifty dropped 165 points, or 1.59 per cent, to close at 10,195.15. Out of 30 Sensex stocks, 26 ended weak while four ended higher. The Volatility Index, or VIX, soared 6.2 per cent, suggesting traders expect risks to the market to remain in the near-term.
Market’s in my view had more or less factored in TDP’s exit from the NDA after its Ministers’ exit from the Union Cabinet and the vociferous disruption of the ongoing session by its MPs of both the Houses of Parliament. BJP’s shock defeat in the UP by polls and the prospect of SP and BSP forming an alliance in 2019 polls and it’s likely adverse impact on BJP’s tally from UP in 2019 is what has got the market concerned, Ajay Bodke, CEO & Chief Portfolio Manager PMS Prabhudas Lilladher told FE Online.
Local political uncertainty, a string of share sales and weak sentiment in global equities dragged down India’s stock markets on Friday with benchmark indices posting their biggest single-day fall since February 2.
 |
| Capitalstars financial research pvt. ltd. |
The Sensex declined 509.54 points, or 1.51 per cent, to close at 33,176. The Nifty dropped 165 points, or 1.59 per cent, to close at 10,195.15. Out of 30 Sensex stocks, 26 ended weak while four ended higher. The Volatility Index, or VIX, soared 6.2 per cent, suggesting traders expect risks to the market to remain in the near-term.
US 10-year government bond yield is at ~2.9%, and domestic yields have also inched up. This has been on the back on inflationary expectations.
Domestic investors trimmed equity holdings ahead of March 31, when the zero-taxation regime for long-term capital gains from equities ends.
Domestic politics is seeing some uncertain moments which is making investors nervous,” said Mahesh Patil, chief investment officer — equities, Birla Sun Life Mutual Fund. “There is also a constant supply of paper that’s taking away the liquidity and uncertainty about the public sector banks.
Domestic politics is seeing some uncertain moments which is making investors nervous,” said Mahesh Patil, chief investment officer — equities, Birla Sun Life Mutual Fund. “There is also a constant supply of paper that’s taking away the liquidity and uncertainty about the public sector banks.
No comments:
Post a Comment