The NSE Nifty 50 index lost 1.34% to 19,281.75. The S&P BSE Sensex fell 1.26% to 64,571.88, biggest single-day loss since July 1, beginning a truncated week on a lackluster note.
It took over 31 years for Sensex to traverse from 1,000 points to the historic 60,000 level. The benchmark was at 1,000 points back in 1990 and it touched the 30,000 mark in 2015.
If you are a foreign investor, remember that India has reached a scale where a 10% equity exposure in your portfolios is a necessary growth allocation.
The magic of the Sensex lies in looking at it as a long-term asset. There has not been a single 5-year period in which the Sensex has not recovered its value.
The RBI governor also warned about the rally, citing the disconnect between the markets & the economy as well as expectations bad-loan ratios at lenders will almost double this year.
The reach and impact of influencers are so significant that even politicians such as Prime Minister Narendra Modi have recognised their value—the National Creators Award is proof.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Coaching centres for Army aspirants in Jhunjhunu are shutting down due to plummeting admissions in the face of a lack of job guarantees under Agnipath Scheme.
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