Benchmarks trade lower with marginal cut in early deals
India, Dec. 3 -- Indian equity benchmarks made cautious start and are trading lower with marginal cut in early deals on Tuesday, as losses in Telecom, Metal and Basic Materials weighed on the indices. Traders were concerned as Crisil sharply cut India's Gross domestic product (GDP) growth forecast to 5.1% for the current financial year (FY20) from an earlier estimate of 6.3%. Adding pessimism among market participants, a private report indicated that with the government trying to revive a stuttering economy, the Goods and Services Tax (GST) mop-up for November is expected to provide some respite, but it added that an improvement in GST collections may not be a solution to all the worries of the government. Though, downside remained capped w...
To read the full article or to get the complete feed from this publication, please Contact Us