Stocks Rebound Despite Ukraine Crisis But Crude Rise Biggest External Risk: Motilal Oswal
New Delhi, April 7 (IANS) Indian stock markets have rallied despite the worsening geopolitical crisis between Ukraine and Russia.
Benchmarks rose strongly in March after falling in February. Benchmark Sensex and is up more than 10% in the past month, according to the data.
To put this into context, the Russian-Ukrainian crisis has exacerbated the macroeconomic backdrop and caused turbulence in global equity, bond and commodity markets with sharply elevated volatility.
Despite the crisis, 65% of the components of the BSE 200 index gained in March. On the other hand, 70% of the Nifty index constituents gained in the same month, said brokerage Motilal Oswal (NS:) Financial Services.
As for sector stocks, excluding the automotive sector, all major sectors advanced in March, the brokerage said.
Adani (NS:) Group companies ( Adani Power (NS:), Adani Total Gas, Adani Enterprises (NS:)) were the biggest gainers with more than 25% month over month in March. However, rising prices remain the biggest external risk to the Indian economy as it is trading near $100 a barrel. Gasoline and diesel prices have seen an almost constant increase after the results of the National Assembly elections in March.
Petrol and diesel prices have witnessed a cumulative increase of Rs 9 to Rs 10 per litre, respectively, over the past 15 days.