Indian stock indices closed Wednesday trade in the red, dragged by a broad-based fall virtually in all the sectoral indices, particularly the media, metal, PSU bank, realty, oil and gas. Profit booking at higher levels also dampened investors sentiment, said analysts.
The Indian IT sector is poised for strong earnings growth in the coming years, with a projected double-digit Earnings Per Share (EPS) Compound Annual Growth Rate (CAGR) of 17.5 per cent from FY24 to FY27, according to a recent industry analysis report by Nirmal Bang Equities.
Indian stock indices rose substantially on Monday, defying a sharp downturn in the overnight US markets, possibly due to inherent strength in domestic market fundamentals.
Indian markets started the fresh week with a decline following weak global cues and a downturn in Asian markets. Globally, markets are under pressure as the Fed meeting date approaches and due to the slowdown in growth in Germany and the Chinese economy.
Indian stock indices took a sharp hit Friday, the last trading day of the current week, with all sectoral indices closing deep in the red. The sell-off was broad-based, with the banking and energy sectors taking the biggest hit.
Indian stock markets corrected sharply on Thursday amid global cues and FPI selling, as today marks the last day of the SEBI deadline for unregistered foreign investors to disclose beneficial owners.
Indian markets opened with gains on Thursday, despite selling pressure in major global stock markets. Both indices registered marginal increases at the opening.