Indian stock markets get a band-aid, but chronic pain remains
Live MintThe thumping victory of the Bharatiya Janata Party and its allies in Maharashtra assembly election means political stability with more synchronization of economic policies between the Centre and the state. Foreign portfolio investors have been on a selling spree, offloading Indian stocks worth ₹21,840 crore in 2024 so far, showed NSDL data. Profit after tax growth for BSE500 companies slipped further to 8% from 10% in Q1FY25 and 21% in FY24 with most sectors barring BFSI posting a sharp slowdown, showed an analysis by Nuvama Research. This marks the first time since August 2023 that retail inflation exceeded Reserve Bank of India 's comfort zone of 6%. Interestingly, an analysis of 100 growth indicators by HSBC Global Research showed that a majority 55% of the Indian economy continues to grow positively, but a quarter ago, this number was closer to 65%.