By Animesh Deb
New Delhi, Mar 12 (IANS): Downtrend in Indian equities is far from over as the ongoing perfect storm in Russia-Ukraine geo-politics is yet to retreat.
The geo-politics has taken crude oil prices to an over decade high, and industrial metals and precious metals to multi-year highs, indicating a likely steep rise in inflation across the globe.
Potential restrictions and sanctions on trade with Russia has led to a spike in the industrial commodities like aluminum, iron ore, steel, nickel, among others.
“Russia-Ukraine led crisis has escalated commodity prices as Western sanctions have disrupted air and sea shipments of commodities produced and exported by Russia. It has significantly impacted the profitability outlook for cement, capital goods, high and low discretionary consumer durables, FMCG, logistics and paints or adhesive sectors,” said Vinit Bolinjkar, Head of Research at Ventura Securities.
Though the key Indian indices have…