On Thursday, the Indian stock market is under pressure. On these day Asian shares braced for more volatility as eye-catching easing by central banks stoked fears of a global recession, driving US yields to near-record lows and lifting gold past $1,500 for the first time since 2013.
On Wednesday, the Reserve Bank of India report in customer confidence which should be drop-in July as Indian households remained pessimistic about jobs and the general economic situation.
Later on, the Philippines is expected to cut on Thursday. The latest spasm began when central banks in New Zealand, India, and Thailand surprised markets with aggressive easing
On Wednesday evening, markets regulator that is the Securities and Exchange Board of India (SEBI) has tightened the norms for pledging of shares by promoters of listed companies.
Weak global cues, the slowing of the economy and consumption, a new Union budget that failed to provide stimulus and raised taxes on the rich and an ongoing credit crisis among non-bank finance lenders have roiled investor sentiment.
Read EquityPandit’s Nifty Bank Outlook for the Week