India's stock market, represented by the Sensex and Nifty, experienced a significant fall after reaching a milestone as the fourth largest stock market in the world. The Sensex dropped by over 1,000 points, while the Nifty declined by 1.5%. This sell-off was more pronounced in the mid and smallcap indices, which slipped by around 3%...as reported by Economic Times as on 23rd Jan 2024
"Tensions in West Asia and the Red Sea are areas of serious concern. If something goes wrong, the market will be impacted since valuations are high. Therefore, even when optimistic, investors should be cautious," said Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
The United States and the United Kingdom launched a new round of strikes on Houthi targets in Yemen as the Iran-aligned armed group continues to target commercial shipping in the Red Sea. A joint statement from the two countries said they had carried out eight strikes on Monday night, with support from Australia, Bahrain, Canada and the Netherlands, targeting a Houthi underground storage site as well as missile and surveillance capabilities.
2. The capital markets regulator, in its discussion paper on the topic, had estimated the assets under management (AUM) of "high-risk" foreign funds that must make additional disclosure at ₹2.6 lakh crore as on March 31, 2023. According to unofficial estimates, there could be a sell-off in Indian stocks in the range of ₹1.5 lakh crore to ₹2 lakh crore over the next six months by funds unable to comply with the norms.
Disclaimer : This article is an extract from various market News sources and is not our view in any ways. Please do take your investment decisions according to your own Risk appetite and financial Goals