Metal Stocks Stand Out in India’s Struggling Market
Nifty Metal Index has overtaken the FMCG gauge in market value.
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Good morning...
I’m Ashutosh Joshi in Mumbai, and as the world pores over the meeting of presidents Xi and Trump, here’s what’s guiding Indian markets today.
The Nifty eked out a modest gain on Wednesday, its first in five sessions, but pessimism still hangs over India’s stock market. And for good reason: oil remains above $105 a barrel, global funds continue to pull money out, and the rupee keeps sliding to record lows. The currency has weakened for four straight sessions even after the government raised import duties on gold and silver to ease pressure, prompting questions over whether more policy action is likely. Last night, the government banned sugar exports through September.