Stock indices in India continue to decline, pulled down by a sharp dip in almost all sectoral indices, particularly the PSU bank following the collapse of two US banks in a matter of two-to-three days.
Stock indices in India declined sharply to start the fresh week, pulled down by a sharp dip in banking and financial stocks following the collapse of two US banks in a matter of two-to-three days.
Stock indices in India fell for the second consecutive session tracking weak cues from the overnight US markets. Also, the US central bank signalling that further hikes in interest rates may be needed to bring inflation to comfortable levels also hurt the market sentiment.
Indian stocks opened largely steady on Wednesday, but volatility seems to have remained. At the time of writing this report, the benchmark indices Sensex and Nifty were about 0.1 per cent lower each.
Till Friday, the stocks declined over concerns that global growth will continue to slow in 2023 due to monetary policy tightening by various central banks to control inflation.
The benchmark stock indices extended their losses from the past week in line with weak fundamentals in US markets, which saw its sharpest weekly decline of 2023.
Benchmark stock indices extended their losses from the previous session as market sentiments remain subdued over global inflation and subsequent monetary policy actions by various central banks.