February 18, 2024
Indian Markets Open Lower, HDFC Bank Weighs Down Financials
Finance Stock Markets

Indian Markets Open Lower, HDFC Bank Weighs Down Financials

Indian Markets Open Lower, HDFC Bank Weighs Down Financials

Indian Markets Open Lower, HDFC Bank Weighs Down Financials

Indian shares opened lower, with financials leading the decline as HDFC Bank extended its post-earnings drop. At 12 pm, Sensex was down 0.21% at 71,351.96, and Nifty was down 0.28% at 21,511.15.

Asian shares had a tepid start, influenced by uncertainties in China’s economic outlook and revised expectations about the global rate easing cycle. MSCI’s Asia-Pacific shares outside Japan rose 0.1%, remaining near a two-month low.

Global stocks, including Chinese stocks and emerging markets, have faced declines, with a 2% drop this year.

The shift in investor expectations for a Fed rate cut in March impacted bond prices, with the two-year yield rising 14 basis points.

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