LGT Wealth India

Indian equity markets rose for the sixth consecutive day and settled at fresh highs
following the strong macroeconomic data along with the encouraging result of recently
conducted state assembly elections. The landslide victory in the three states by the ruling
party at the Centre increased the expectations that it would hold onto power and establish
a stable government in the upcoming general election of 2024, contributed significantly to
the surge. Sentiments were boosted further after a U.S. agency found the accusations
made by the U.S. based investment research firm against the renowned Indian power-toport conglomerate to be irrelevant.

Daily Market Update

9th November, 2022