Indian Shares Dip as BSE Sensex Falls 303 Points Amid Fed Concerns
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: NASDAQ.COM
- Market Sentiment Decline: Indian shares continued their downward trend due to heightened concerns over the Federal Reserve's institutional autonomy, with the benchmark BSE Sensex dropping 303 points, or 0.4%, to 81,871, indicating investor anxiety regarding future economic policies.
- Poor Stock Performance: AU Small Finance Bank's stock fell nearly 2% despite strong Q3 results, while United Spirits dropped 3% after Q3 margins fell short of estimates, reflecting market worries about profitability.
- Retail Challenges: Shoppers Stop's stock declined almost 3% after a 69% year-on-year drop in consolidated profit for Q3, highlighting the challenges faced by the retail sector amid weak consumer spending.
- Investment Plans: Embassy Developments announced plans to invest ₹4,500 crore in residential projects in Mumbai, leading to a 1% stock increase, demonstrating the company's proactive stance in the real estate market despite overall market pessimism.
Analyst Views on AU
Wall Street analysts forecast AU stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AU is 104.40 USD with a low forecast of 90.00 USD and a high forecast of 131.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 106.840
Low
90.00
Averages
104.40
High
131.00
Current: 106.840
Low
90.00
Averages
104.40
High
131.00
About AU
AngloGold Ashanti plc is a global gold mining company with a diverse portfolio of operations, projects and exploration activities in 10 countries, across four continents. The Company’s diverse portfolio includes approximately 11 operations in Argentina, Australia, Brazil, the Democratic Republic of the Congo (DRC), Egypt, Ghana, Guinea and Tanzania. The Company’s portfolio includes Africa, the Americas, and Australia. Its Africa portfolio includes Kibali- managed by Barrick Gold Corporation, Egypt (Sukari), Ghana (Iduapriem and Obuasi), Guinea (Siguiri) and Tanzania (Geita). The Americas hosts three of its operations, one in Argentina and two in Brazil, as well as two greenfield projects in Colombia and a significant new greenfield development in Nevada in the United States. Australia hosts two of its operations, which include Sunrise Dam and Tropicana, both in the north-eastern goldfields in the state of Western Australia.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
