Indian shares muted as recession fears offset China recovery hopes
The Nifty 50 slipped 2.10% over the last two sessions after major central banks including the U.S. Federal Reserve and the European Central Bank, triggering fears of the global economy being tipped into a recession.
"Inflation fears have already had an adverse impact on markets," said Astha Jain, senior research analyst at Hem Securities, adding further impact due to inflation is unlikely. "If Nifty 50 crosses 18,900, then it will have room to rise till 19,700, with resistance at 19,000 and 19,300 levels," Jain said."There are two factors supporting FMCG stocks, one is moderation in inflation and another is softening of commodity prices," said Aishvarya Dadheech, director and fund manager at Ambit Asset Management.
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