Both Sensex and Nifty have declined 2 percent each in January so far. Major equity markets started gaining since the start of this year.
Indian’s benchmark Sensex and Nifty have underperformed many global equity markets in the first month of 2023 amid continued selling by foreign investors and lacklustre earnings reported so far for the December quarter.
The recent selling pressure on Adani Group stocks, and banking and new-age technology stocks has also dampened investor sentiment.
Both Sensex and Nifty have declined 2.3 percent each in January so far. Meanwhile, major equity markets have started gaining since the start of this year amid expectations that the US Federal Reserve is likely to slow the pace of interest rate increases. Global indices such as the Dow Jones gained 2.5 percent, Ibovespa 2.4 percent, S&P 500 up 6.02 percent, FTSE 100 4.21 percent, CAC 9.6 percent and DAX 8.8 percent.
Among Asian indices, Nikkei has risen 5 percent, Hang Seng 12.84 percent, Kospi 6.45 percent and Jakarta Composite 0.11 percent.