On Wednesday after volatility Benchmark indices closed the session mildly lower, as political turmoil in Italy and Moody’s GDP growth forecast cut weighed on market sentiment. Investors also closely monitor the movement in the rupee and crude oil prices, both of which are range-bound after recent sharp moves.
BSE Sensex’s 30-shares slipped 43.13 points to 34,906.11 while NSE Nifty’s 50-share managed to hold 10,600 levels, falling 18.90 points to 10,614.40.
Investors globally worried over break-up risk of Eurozone due to political turmoil in Italy. Asian markets closed lower, tracking the overnight correction in US and European markets. China’s Shanghai Composite, Japan’s Nikkei, Hong Kong’s Hang Seng and South Korea’s Kospi ended down 1-2.5 percent.
Meanwhile, Moody’s a rating agency reduced its India 2018 growth forecast to 7.3 percent from 7.5 percent but retained 2019 GDP growth estimates at 7.5 percent. “India’s transition to new GST regime could weigh on growth in the next few quarters.”
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