Indian stock market traded lower with Sensex falling below 77,300 mark and Nifty dipped below 23,450 levels. India’s volatility index skyrocketed by nearly 6%.
IT, Media and Oil & Gas stocks dragged the benchmarks. On the other hand, Asian stocks traded mixed with South Korean index KOSPI skyrocketing by 2.3% as Samsung shares jumps on buyback plan. US stock futures also traded higher with Nasdaq 100 futures outperforming ahead of Nvidia earnings.
The performance comes despite global brokerage CLSA has decided to key movement, reversing its earlier tactical allocation shift from India to China. The reason for CLSA leaning more towards the Indian market is because of Donald Trump’s return to the White House, which is heralding a trade war escalation. CLSA has announced a 20% overweight in India.
