The cuts in individual stocks that comprise these indexes have been much sharper. In comparison, the Nifty 50 index has been flat, albeit amid volatility.
Is the fall in the midcap and smallcap indices the start of a deeper correction as happened in 2018? Analysts at HSBC do not think so. The market correction in 2018, they believe, was led by several risk events coming together to trigger a bear phase. In 2018, concerns started when the government introduced a 10 per cent tax on long-term capital gains (LTCG) in the February 2018 budget.
Global liquidity tightening amid fears of steeper rate hike by the US Federal Reserve and rising crude prices dented external finances. Late in 2018, another round of market selloff was triggered by a domestic credit crunch in the non-bank financial companies (NBFC) space post debt default by IL&FS and gross domestic product (GDP) growth slowing down globally and in India.
Diese Geschichte stammt aus der March 23, 2024-Ausgabe von Business Standard.
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Diese Geschichte stammt aus der March 23, 2024-Ausgabe von Business Standard.
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