Quote on Markets By Vikram Kasat, Head - Advisory, PL Capital - Prabhudas Lilladher
Below the Quote on Markets by Vikram Kasat, Head - Advisory, PL Capital - Prabhudas Lilladher
"After three consecutive sessions of losses, The Nifty 50 traded flat on Thursday, weighed down by continued selling from foreign portfolio investors (FPIs) and lackluster global market trends. FMCG stocks were notably under pressure, contributing to the index's decline with Hindustan Unilever dropping 5% following a weaker-than-expected September quarter.
While over half of the 30 stocks on the BSE Sensex managed to trade in the green, the FMCG index fell 2.84%, leading sectoral losses, followed by a 1.10% drop in the Realty index. In contrast, the PSU Bank index emerged as a standout gainer amid the mixed sentiment. Global equities also edged lower amid tepid trading ahead of the U.S. elections. Meanwhile, gold prices retreated from record highs due to a strengthening U.S. dollar, which rose 0.26% to 104.37.
Concerns regarding geopolitical tensions in the Middle East and Europe have further fuelled demand for safe-haven assets. As the market navigates these challenges, investors remain cautious amid uncertain economic conditions."
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