๐๐ฑ๐ฎ๐ป๐ถ ๐๐๐ผ๐ฐ๐ธ๐, ๐จ๐ฆ ๐๐๐ & ๐ฒ๐ ๐ฝ๐ฒ๐ป๐๐ถ๐๐ฒ ๐๐ฎ๐น๐๐ฎ๐๐ถ๐ผ๐ป ๐๐ผ ๐ธ๐ฒ๐ฒ๐ฝ ๐ฒ๐๐ฝ๐ต๐ผ๐ฟ๐ถ๐ฎ & ๐ก๐ถ๐ณ๐๐ ๐ฑ๐ผ๐๐ป ๐ฎ๐ ๐๐ป๐ฑ๐ถ๐ฎ ๐ฏ๐๐ฑ๐ด๐ฒ๐ ๐ผ๐๐ฒ๐ฟ ;)
ะฝะฐ ะบะฐะฝะฐะปะต: ๐ก๐๐ฅ๐๐ ๐ฆ๐๐๐-๐ฆ๐ง๐ข๐๐ ๐๐ก๐๐๐ฌ๐ฆ๐ง
Indian government presented its budget for FY 24 and though its just a routine annual exercise which has significance for day traders but some good taxation measures were announced for salaried middle class and individual tax payer as govt. announced new lower income tax rates and increased tax rebates. But it also increased customs duty on Electric vehicles and luxury cars as well as all imported SKD Cars also.
Besides, it increased customs duty on silver,gold, platinum and copper scrap making gems and jewellery more expensive . Anycase other than that, there is nothing extraordinary which can excite the most expensive stock market in the world.
Stock markets in general need some excuse either to go up or down and such an expensive market like India needed excuse for correction. This is provided by Adani group stocks' bubble burst and sooner it may spread it to other heavyweight expensive index stocks like Reliance.
USFED is also announcing its another interest rate policy hike and I believe that they will further increase interest rates by 50bps as compared to market consensus of 25 bps.
Besides, OPEC members are also meeting and will come out with some kind of declaration regarding energy demand supply.
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