Indian flat steel prices declined by 19% from the June quarter average. The global investment bank sees a downside risk as Indian prices are still 6-11% above import parity. The global investment bank downgraded Indian steel in January and believes it is still early to turn constructive.
Nifty Pharma, 4 others hit 52-week high since Iran war while Nifty fell 7%. Will the form continue?
Despite a challenging market backdrop fueled by geopolitical tensions and foreign fund outflows, five Indian sectors—Pharma, Energy, Defence, Capital Markets, and Metals—are showing remarkable strength.