Market Outlook March 2023

Initial Commentary

The first 2 months of calendar year 2023 were marked with market volatility and overhang of negative cues from global peers. Nifty50 index declined by 4.82% from 1st Jan to close at 17321 on 1st March 2023. Sensex declined by 3.69% in the same time period. The month of February was especially marked with negative sentiments towards Adani group stocks after the huge claims made against them in the Hidenburg report. Factors to look out for to foresee the Indian market trend – Indian economic indicators like growth, inflation, fiscal deficit, FII/FPI flows, US Fed policy and linked global market movement, currency movement, RBI Monetary Policy decisions, impact of Quarter 3 results, Adani-Hidenburg proceedings. Read More

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