Fri, Feb 2, 2024 2:11 PM
Will Nifty hold 21,600 mark or continue downfall? See GIFT Nifty!
A Flip by Avya Verma
IT bellwether Tata Consultancy Services Ltd (TCS) is set to begin the third-quarter earnings season. However, Indian companies are bracing for another quarter of muted growth as the December quarter preview by leading brokerages suggests that the earnings slowdown seen in the first half of 2024-25 is far from over.
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Indian stock markets fell for the second consecutive session, with Sensex and Nifty 50 declining due to factors including weak global cues, rising crude oil prices, FII selling, valuation concerns, and uncertainty over the COVID-19 pandemic. the Sensex and the Nifty 50- declined 0.80 per cent each in intraday trade on Thursday, January 9, amid weak global cues, rising US dollar and bond yields.
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Global uncertainties, including geopolitical tensions, rate concerns, and the human metapneumovirus, are painting a gloomy picture for equity markets, with India's Nifty 50 down 10% from its peak. Near-term events, such as the US presidential transition and India's Union Budget, may provide valuable cues for investors in 2025.
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