Sensex takes a dip for the third day in a row, equity standards ended in a downward trajectory. Sensex dropped by 233 points at 57,362 and Nifty closed business at 70 points lesser at 17,153. Indian equity had opened in green earlier.
Sensex’s opening was at 192 points high at 57,788.25 and Nifty rose to 66 points at 17,289. However early trade showed a dip in indices and turned red.
Today’s top gainers are SBI and Reliance Industries whereas top losers are Maruti Suzuki and Titan
Shibani Kurian from Kotak Mahindra Asset Management Company, said, “Indian equity markets were volatile amidst geopolitical crisis and rising inflation. The Indian rupee fell due to rising global crude oil prices however India’s 10-year bond moved higher.”
In lieu of the Russian-Ukraine crisis, the Indian economy faces the risks in inflation. And balance payments including corporate business which calculated the input costs higher than the output.
India imports crude oil and for every 10% rise in crude oil it has a direct effect on the present account deficit by 30 bps and inflation of CPI by 40 bps, and Gross domestic profit by 20 bps, the rest is unchanged.
Even though Sensex took a dip, when compared to the previous domestic markets standpoint, India has large forex reserves, robust FDI inflows and renewed export growth.
