Share market remains flat: 3 factors that are spooking D-street
India Today
The NSE Nifty 50 index was flat at 17,327.70, while the S&P BSE Sensex was marginally up by 0.14 per cent or 81.90 points at 57,973.91.
The share market remained subdued on Friday, pressured by IT and pharma stocks, with investors staying mostly on the sidelines as the East-West standoff over Ukraine deepened and roiled global markets the entire week.
The NSE Nifty 50 index was flat at 17,327.70, while the S&P BSE Sensex was marginally up by 0.14 per cent or 81.90 points at 57,973.91. If losses hold, both the indexes will record their second weekly decline.
Artillery and mortar attacks in Ukraine on Thursday renewed Western fears of an imminent Russian invasion, triggering a selloff in global equities.
But Asian markets recouped some losses early on Friday after U.S. Secretary of State Antony Blinken accepted an invitation to meet with Russian Foreign Minister Sergei Lavrov next week provided Russia does not invade Ukraine, the U.S. State Department said.
"There is a lot of unpredictability in the market. We are into rising yields era. Foreign investors have been net sellers. If interest rates rise, the outflows are likely to continue," said Anita Gandhi, director at Arihant Capital Markets, according to a Reuters report.
"Some amount of stability on the global front is needed for investors to take a concrete view going ahead, which is not happening as of now," Gandhi said.
Foreign investors have sold a net $6.41 billion in Indian equities so far this year, Refinitiv data showed, compared with net purchases of $5.82 billion in the same period last year.
