Ved says the automobile and specialty chemicals sector can grow at very healthy double-digit rates. The market veteran is very bullish on domestic demand-oriented sectors and identified structural growth areas including engineering research and development, design, specialty chemicals and consumer discretionary– liquor and quick-service restaurants.
Investors typically prefer stable markets in times of high market uncertainty.
Further, consistent depreciation of the rupee as well as depleting Indian foreign exchange reserves too had a bearing on the weak market sentiments. India s forex reserves in the past six-to-seven months have declined by over USD 40 billion. Good News! Foreign Portfolio Investors Return To Indian Equity Market With Rs 4,989 Crore After 9 Months.
Benchmark BSE Sensex on Tuesday gave up intra-day gains to close lower by a little over 100 points on emergence of fag-end selling in FMCG, banking and IT stocks and weak opening in European stock markets.