Indian shares were volatile on Thursday, on fragile investor sentiment globally after Credit Suisse, one of Europe's top lenders, added to worries about a crisis in the financial sector.
While there is no material impact on Indian markets due to Credit Suisse, the sentimental impact is obvious, three analysts said.
"Whenever a bank opts for emergency funding it means things are really bad, as an emergency fund is the last resort," said Avinash Gorakshakar, head of research at Profitmart Securities. Gaurav Dua, head of capital market strategy at Sharekhan asked investors to reduce exposure to banks and increase allocations to public sector enterprises due to their attractive valuations and higher dividend yield.Titan
jumped nearly 2% and was among the top Nifty 50 gainers after global brokerage firm JP Morgan termed it the preferred discretionary play. Reporting by Nishit Navin and Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza and Janane Venkatraman
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