Investor Reluctance Stock Market has been in a weary trade since yesterday morning. The result for the second quarter was not favorable.
Stock market not favorable for traders
Tech giant TCS’s quarterly results were not negative as the stock market was not favorable for traders early on. The company’s revenue in dollar terms fell for the first time in three years.
Also, with Retail Price Inflation data and Indian Manufacturing Index due out in the evening, traders did not invest heavily. There was hesitation as to what messages they were going to convey.
Foreign institutional investors sold shares worth Rs 421.77 crore on October 11 and exited. This is seen as a great fear.
Our GDP to debt ratio will reach 82.30 percent in the next financial year and will gradually decline thereafter.
Traders were alerted by the International Monetary Fund’s forecast of a decline to 80.50 per cent in the 2028-29 financial year. This means that our country’s borrowing levels continue to rise.
According to Rat Te Mooj, co-director of the same International Monetary Fund, India is as heavily indebted as China. However, he opined that India has not been affected by China.
As prices in the US stabilize, second-quarter results of most Indian pharmaceutical companies will see growth of 12 to 19 percent, a private sector report said.
Petroleum and Natural Gas Minister Hardeep Singh Puri’s comment that rising crude oil prices will limit demand in many countries and thus affect the economic recovery has raised concerns among traders.
India’s agrochemicals industry’s revenue may fall by 3 per cent in the current fiscal, market research firm Crisil has warned traders.
IT stocks were the biggest losers at the end of trading hours. Automobiles, oil, electricity and gas sector stocks saw growth.
