Indian shares fall as banks, consumer sectors drag
Thursday, November 25, 2021       13:59 WIB

November 25, 2021 - 12:32 PM Updated
ByVishwadha Chander
BENGALURU,(Reuters) - Indian shares edged lower on Thursday as consumer, financials, and metals stocks slipped, with a 2% fall in ICICI Bank weighing the most on the blue-chip Nifty 50 index.
The benchmark S&P BSE Sensex(.BSESN)was down 0.05% at 58,313.06 by 0502 GMT, while the NSE Nifty 50 index(. NSEI )dipped 0.07% to 17,403.10.
"Structurally, our view remains bullish on Indian equities but in the near term, there are signs of some exhaustion in the equity rally after the ferocious rise seen over the past few months," Amar Ambani, head -- institutional equities at Yes Securities said.
Indian equities have outperformed their Asian peers strongly this year as the economy reopened and vaccinations sped up, with the Nifty and Sensex rising 24.6% and 22.2%, respectively, during the period.
Ambani expects the Nifty to be "at much higher levels" in 2022 while saying that the market's current correction could extend by another 5%.
Shares of most consumer goods majors, including Hindustan Unilever(HLL.NS), Dabur India( DABU .NS)and Godrej Consumer Products( GOCP .NS), fell between 0.9% and 1.45%. The Nifty FMCG Index(.NIFTYFMCG)dropped as much as 0.89%
Analysts have said rising commodity prices could be increasing worries about margins of consumer goods companies.
The Indian arm of German engineering company Siemens( SIEM .NS)fell as much as 7.8% and was on track for its worst day in 18 months after reporting a fall in quarterly profit.
The Nifty Energy Index(.NIFTYENR)continued its strong run to climb 0.55%, boosted by a 3% rise in heavyweight Reliance Industries(.NS).
The conglomerate said on Wednesday it would transfer its gasification assets to a unit.
IT stocks(.NIFTYIT)also bucked the broader trend, rising 0.88% on a 2% rise in MindTree Ltd( MINT .NS).
Globally, stocks wobbled on a rising dollar after policy makers said they were ready to speed up tapering of stimulus if inflation stayed high.
Reporting by Vishwadha Chander in Bengaluru; editing by Uttaresh.V

Sumber : Reuters

berita terbaru
Saturday, Dec 04, 2021 - 15:27 WIB
Financial Statements 3Q 2021 of FOOD
Saturday, Dec 04, 2021 - 15:21 WIB
Financial Statements 3Q 2021 of FPNI
Saturday, Dec 04, 2021 - 15:17 WIB
Financial Statements 3Q 2021 of GAMA
Saturday, Dec 04, 2021 - 15:14 WIB
Financial Statements 3Q 2021 of GPRA
Saturday, Dec 04, 2021 - 15:12 WIB
Financial Statements 3Q 2021 of GSMF
Saturday, Dec 04, 2021 - 15:08 WIB
Financial Statements 3Q 2021 of HDIT
Saturday, Dec 04, 2021 - 15:05 WIB
Financial Statements 3Q 2021 of HITS
Saturday, Dec 04, 2021 - 15:00 WIB
Financial Statements 3Q 2021 of HOKI
-0.4 %
-2 %