INSUBCONTINENT EXCLUSIVE:
Domestic shares began year on a negative note on Tuesday as investors stayed away from making bets, with corporate earnings season slated to
begin next week.With trade optimism bringing some cheer, markets posted their third consecutive annual gain in 2018 and outperformed most
Asian indices, according to Refinitiv data
However, global stock indices ended in red for year.This year is expected to be a crucial one for country as it heads into a general
election that must be held by May."We're looking at a flattish market with a target of 10,400 - 11,000 for Nifty in first six months
There is uncertainty with respect to global liquidity," said Dhananjay Sinha, head-institutional research, economist and strategy at Emkay
Global Financial Services.The Reserve Bank of India has given a fair and positive view in its financial stability report, he added.The
central bank said on Monday proportion of commercial lenders' non-performing assets may fall slightly to 10.3 per cent by March, thanks to
measures including creation of a bankruptcy code
cent at 35,979.81.Financial and consumer stocks weighed on indices
HDFC Bank Ltd and ITC Ltd were among top drags, down about 0.5 per cent each.Metal stocks, which were hit through 2018 on trade war
Hindalco Industries Ltd and JSW Steel Ltd were down about 1 per cent each.Sales data for automakers such as Maruti Suzuki India Ltd
disappointed investors, sending stock down 0.5 per cent.
