India Business News: India's Nifty 50 and the S&P BSE Sensex fell by 0.46% and 0.47%, respectively, pulled down by financial and consumer stocks following the Reserve Bank
The Nifty 50 closed 0.46 per cent lower at 19,543.10, while the S&P BSE Sensex fell 0.47 per cent to 65,688.18, , stocks, Financials Slide, consumer stocks
“We are focused a lot more on the domestic-oriented sector. We believe that even if one were to look at the earnings growth thus far, the disappointment has been generally from the global-facing sectors like IT, metal, oil and gas. The domestic-oriented sectors – be it auto or industrials, have done really well.”
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US investment bank has recommended adding exposure to Chinese consumer stocks, as an improvement in the country’s jobs market is set to boost household incomes and unwind excess savings to further buoy consumption.