Quote on Markets by Vikram Kasat, Head - Advisory, PL Capital - Prabhudas Lilladher
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Below the Quote on Markets by Vikram Kasat, Head - Advisory, PL Capital - Prabhudas Lilladher
“The Indian market reflected bearish sentiment today, with the Nifty 50 plunging 318 points to finish at 25,860.70, while the BSE Sensex dropped 1,017 points to settle at 84,553. This sharp decline was primarily driven by profit booking after recent highs and heightened geopolitical tensions that have unsettled investor sentiment. The biggest drag on the index was Reliance Industries, which fell by 3%, significantly contributing to the overall market decline. As the third quarter wraps up, quarter-end dynamics are being closely monitored.
Despite the downturn, sectors like consumer durables and automobiles may see increased demand during the upcoming festive season, although rising inflation could temper growth. Attention will also be on key economic data releases in the coming weeks, including: Infrastructure Output, Current Account Balance, Manufacturing PMI, WPI Inflation. Additionally, upcoming RBI policy decisions could significantly influence market direction.”
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