Investors Take The Markets To A Higher Level

Even though the domestic markets witnessed a sharp decline on budget day due to significant changes in the capital gains tax framework, indices swiftly recovered, with the Nifty 50 even crossing the 25,000 level. A roller-coaster ride defined the past two weeks for benchmark indices, which, after having scaled new peaks, took a precipitous dive in tandem with global weakness. US’ recession fears heightened after the release of unemployment data, while a bloodbath in major Asian markets following Japan’s interest rate hike, rising geopolitical tensions in the Middle East, and less-than-expected Q1 results were the primary factors behind the weakness.