Indian shares declined on Thursday as concerns of a prolonged high-interest rate regime weighed on sentiment.
"A 50 bps rate hike in the next Fed meeting is a given. With further rate hikes, debt will become more attractive," said G Chokkalingam, founder and chief investment officer at Equinomics Research.
"Investors will wait for the monsoon forecast, rate hike trajectory, revival in domestic corporate earnings and growth figures before they turn definitively turn positive on the Indian markets."were among the bright spots, advancing 0.75% on hopes that the reopening of the Chinese economy would boost demand.
Brokerage firm Jefferies also notes attractive valuations given the index has fallen over 15% so far in 2023, compared to a 2% slide in the benchmark Nifty 50.
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