Financials lead Indian shares lower; Adani stocks, econ survey in focus

India's annual pre-budget economic survey is due later in the day, in which the government is likely to peg GDP growth at 6-6.8% for 2023-24, the slowest in three years, Reuters reported.That will put added focus on the government's fiscal consolidation path and borrowing calendar for fiscal 2024 at the Union budget on Feb. 1.

Traders will also watch the budget for any incentives to entice foreign investors, who have piled out of the market, especially since the report on Adani Group on Wednesday. Foreign institutional investors have sold 151.65 billion rupees worth of shares on a net basis in the past three sessions. Later that day, the focus will shift to the U.S. Federal Reserve's decision on future monetary policy, which is key for Indian firms, especially IT companies, that have major exposure to the United States.jumped over 4% and was the top Nifty 50 gainer after reporting third-quarter results.

Adani story touted heavily to catalyse broader shift from India to China. Two-fold objectives are to: (a) get weak investors to hand over bid-offer spread to market makers, and (b) to increase circulation for the financial press. Suckers will fall for it. Guaranteed.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Indian shares slip, tracking financials as Adani stocks extend slideIndian shares fell in a volatile session on Monday, mirroring the financials ahead of the Union budget as Adani Group extended a decline after a short-seller attack on group companies triggered a sell-off over the previous two sessions.
Source: Reuters - 🏆 2. / 97 Read more »

Indian shares set to rise after a rout set off by Adani stocksIndian shares are set to open higher on Monday tracking gains in global equities on hopes of the U.S. Federal Reserve easing its aggressive monetary policy stance, erasing some of the losses over the previous two sessions due to a sell off in Adani Group stocks. You're obsessed with this stock, in bed with the short sellers? Adami stocks went down because of B.B.C propaganda. All western media outlets have become propaganda outlets including Reuters. People are not willing to believe anything that your lot says anymore
Source: Reuters - 🏆 2. / 97 Read more »

Indian shares volatile as key Adani stocks arrest slideIndian shares were volatile in morning trading on Monday, mirroring financials, ahead of the Union budget, while select Adani Group stocks arrested the recent slide after a short-seller attack on group companies triggered a sell-off over the previous two sessions.
Source: Reuters - 🏆 2. / 97 Read more »