Impact on economic growth from policy tightening by central banks sap risk appetite. Asian shares fall after U.S. equities on Monday suffered worst decline in two months. Indian shares down 2.5% over last two sessions.
It said that in the past few years Asian countries led by India, Vietnam and Thailand witnessed a steep rise in crypto ownership, leading to a scenario where the correlation between equity performance and crypto asset performance had increased.
"In India if a customer does not use his money, we have to send the money back to the customer’s bank account. In the US, most of the brokers open a margin account by default which means that when you buy the stock, it does not sit in your demat account like in India. It sits in the broker’s name. The broker can now even leverage the stocks that you have sitting with them. When seen from India, the US seems like a wild west."
Colgate-Palmolive (India) Ltd., incorporated in the year 1937, is a Large Cap company (having a market cap of Rs 43219.88 Crore) operating in FMCG sector.
“Some more consolidation is likely to happen in the market in some of the stocks and sectors which had kind of run up very sharply, and where we had seen sharp growth. So the fundamentals do not change but when we oscillate between greed and fear, that needs to come back to normal and that is where we have seen profit happening.”
"The future continues to look bright. The government has been pushing capex and has asked the infrastructure ministries to achieve 60% (~4.45 lakh crores) of the FY23 capital expenditure budget by the September quarter to support the economy. The ministries have been asked to avoid any delays in completion and provide detailed monthly plans and progress reports. This clear mindset of the government will play a key role in achieving the $5 trillion economy."
Bharti Airtel Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 428142.75 Crore) operating in Telecommunications sector.
Stocks that were in focus included Adani Power which closed with gains of 5 per cent, ITC which hit a 52-week high and closed marginally higher and Tata Communications which ended with gains of nearly 1 per cent but with strong volumes on Monday.