Nifty Stumbled from a Record High on the Concern of Subdued Earnings – Investing.com India
- Date: 22-Oct-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Gulf
Nifty Stumbled from a Record High on the Concern of Subdued Earnings – Investing.com India
Stumbled from a Record High on the Concern of Subdued Earnings amid a Surge in Raw Material Costs
India’s benchmark stock index Nifty (NSEI) closed around 18178.10 Thursday; slips almost -0.48% on negative global cues as Wall Street Futures retreated from overnight high amid elevated oil/bond yield and lingering uncertainty over Biden’s fiscal stimulus and tax hike plan. Although corporate, capital gain and highest personal tax may not be increased significantly; there may be a tax on buybacks and billionaires.
Overall, Nifty stumbled from the new lifetime high 18604.45 made on Tuesday (19th October) to 18049.15 Thursday and underperformed Dow/SPX/Wall Street Futures on a variety of probable reasons:
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