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Indian shares fall as Adani stocks hurt, insurers slip

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Indian shares declined on Thursday as the week-long rout in Adani Group stocks persisted, erasing $100 billion in market value, while insurers fell on a budget tax proposal that would dent the appeal of high-value life insurance policies.

were the top losers on Nifty 50, falling 7.6% and 3.6%, respectively, followed by HDFC Life , which lost 4.82%.tumbled 1% after the Indian government proposed a tax on the total returns upon maturity of life insurance policies issued on or after April 1, 2023, if the aggregate premium is more than 500,000 rupees a year.in line with an expected 25 basis points and said it had turned a key corner in the fight against high inflation.

Fed commentary hints at a soft landing for the world's largest economy, setting the stage for a 25bps rate hike by the Reserve Bank of India in its monetary policy meeting next week, two analysts said.rising 0.74%. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman, Eileen Soreng and Dhanya Ann Thoppil

 

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Fall and rise nature of stock market.. Fake propaganda against Indian market.

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