Stocks to buy: Raja Venkatraman recommends three stocks for today — 7 March
Subscribe to enjoy similar stories. On 6 March, Indian stock indices, the Sensex and the Nifty 50, lost their initial upward momentum and closed in negative territory, dragged down by declines in major stocks like HDFC Bank, Airtel, ITC, and Infosys. Meanwhile, the White House revealed that US President Donald Trump is open to evaluating additional products for possible tariff exemptions, which came into effect on 4 March.
Asian markets, on the other hand, showed optimism, with the MSCI Asia ex-Japan index rising by 1%. This uptick was driven by hopes that Trump might roll back some of the existing tariff measures. Additionally, broader indices in India performed well, as the mid-cap and small-cap segments rose by 0.7% and 1.3%, respectively.
Indian equities are seeing some respite following significant losses over the past five months. After posting their biggest single-day gain in a month on Wednesday, the benchmark indices were up by as much as 0.8% earlier in the session before turning negative. However, challenges such as sluggish domestic economic growth, foreign capital outflows, and Trump’s threats to impose retaliatory tariffs on trade partners, including India, starting 2 April, have weighed heavily on the stock market.
The faint news of the Reserve Bank of India injecting some liquidity into the system has kept the banking sector alive. However, the road ahead seems to be fraught with hesitation as there are no clear signals that can trigger some revival. Currently, the limited rise seen in the Nifty Bank has left some questions unanswered.
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