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Foreign investors are increasingly pessimistic about Indian stocks, reaching a two-year high in bearish sentiment. Concerns stem from a weakening rupee, high valuations, and the impact of US tariffs on Indian exports. This has led to accelerated selling and a build-up of short positions in the derivatives market, reflecting a risk-off approach towards Indian equities.
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June quarter results show mixed performance across sectors. Automobiles, banking, and IT faced demand challenges. Cement, metals, and pharma saw gains. Mahindra and Mahindra excelled in automobiles. Public sector banks maintained asset quality. Ultratech reduced production costs. Infosys and HCL Technologies revised revenue guidance. Reliance Industries reported strong operating profit. Sector performance varied due to diverse economic factors.
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The Nifty has been experiencing losses for six weeks due to US tariffs and muted earnings. Experts predict this weakness will continue in the short term. Selling pressure may persist until a breakout around 24,600-24,800. Support lies at 24,000. Investors should consider private banking, auto, and hotel stocks on dips. Reliance, L&T, and HDFC Bank are also favored.
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News and Media
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