There was little bloom in the market in the morning; After that relaxation. As there was no new exciting news globally, traders started making ‘Profit Book King’. Traders also feel that the market has run too fast and too far.
Midcap and small cap stocks in particular, have gone above and beyond their value. India’s industrial production estimate has dropped, leaving traders pondering.
The amount of money that private investors, venture capital investors, have poured into Indian companies in 2023 has come down significantly. That too was down from 2016, a report said.
Pricewater Cooper conducted a global survey of 4,702 CEOs from 105 countries. In it, there were 79 Indian CEOs. 86 percent of them said that the economy of our country will definitely grow, and that too, it will grow by 30 percent compared to last year. While there is this belief at the Indian level, global CEOs do not have such a belief.
As attacks on merchant ships passing through the Red Sea continue, transportation costs, insurance premiums and travel times have risen significantly. The Department of Commerce has warned that the price of imported goods will go up due to this.
Another private report reported on exports. The report said our country’s export costs have doubled as Yemen’s Houthi militias launch an offensive in the Red Sea.
At the close of trading, metals, oil and gas stocks gained. Power, retail, healthcare and IT stocks saw declines.