Ajit Karn
On Thursday morning trade, domestic equity indices decreased. Indicators on global markets were dominated by weak signals. Even though retail inflation moderated and settled within the RBI’s target range in March, it was unable to lift the key indices, Sensex and Nifty, in Thursday’s early trading.
On Thursday morning trade domestic equity indices decreased, the BSE Sensex fell 43 points to 60,349.14 and the NSE Nifty fell 10 points to 17,802.55. BSE Financial Services, BSE FMCG, and S&P BSE Energy traded in the positive territory, whereas BSE IT traded in the negative territory.
Dow Jones was trading 38 points lower, Nasdaq was down 102 points, and S&P 500 was down 16 points.
Early Thursday morning, Hong Kong’s Hang Seng fell 171 points, Japan’s Nikkei rose 25 points, China’s Shanghai lost 2.73 points, and Thailand’s SET fell 4 points.
BEL, CAC, Amsterdam Exchange, and Deutsche Borse were trading in the positive territory on the European markets. When Thursday’s Asian markets opened, the FTSE 100 was up 46 points and Madrid was trading in the green.
The Sensex gained 235.05 points on Wednesday, concluding at 60,392.77, while the Nifty 50 index gained 90.10 points, or 0.51 percent, to end at 17,838.40.
Retail inflation in March fell to a 15-month low of 5.66 percent and returned to the Reserve Bank’s comfort level of 6 percent, according to data released by the government on Wednesday. Vegetable and protein-rich food prices contributed to the decline.
Consumer Price Index (CPI)-based retail inflation was 6.44 percent in February 2023 and 6.95 percent in February 2022. December 2021 marked the preceding low of 5.66.
Also read this:IMF division chief Daniel Leigh on India’s development trajectory:”Very strong economy…,”
Yesterday, the International Monetary Fund (IMF) lowered its forecast for India’s gross domestic product (GDP) growth for the fiscal year 2023-24 by 20 basis points to 5.9%. The IMF’s chief economist, Pierre-Olivier Gourinchas, stated that while the gradual recovery of the global economy is on track, the recent instability in the financial sector has highlighted the fragile nature of the recovery narrative.
