World’s richest man, Bernard Arnault, lost around $11.2 billion from his fortune in one day due to the softening of the US economy, which is likely to dampen luxury goods demand. The investor of LVMH, offering brands such as Louis Vuitton, Moet & Chandon, and Christian Dior, experienced a 5% fall in LVMH shares in Paris. Despite the shares’ slump, Arnault still has a net worth of $191.6 billion, having added $29.5 billion so far this year. Deutsche Bank analysts forecast that the international investors may become selective with European luxury stocks due to slowing growth in the US, which might affect the LVMH share price as well.
NBFCs and OMC stocks offer margin of safety amid sector rotation: Rohit Srivastava
Rohit Srivastava suggests the market is holding gains with sector rotation, eyeing 25,300 on the Nifty. Key levels to watch are 24,494 for Nifty and
May 21, 2025