Markets dip over 10% from record highs on FII exodus, weak Q2 earnings, elevated valuations

BSE benchmark gauge is down a massive 8,397.94 points or 9.76% from its all-time high & Nifty has also lost 2,744.65 points or 10.44% from the record

NEW DELHI: Benchmark Sensex and Nifty after smashing many record peaks this year, slipped into a correction mode, with the NSE key gauge falling over 10 per cent from its record high hit in September amid concerns of foreign investors fleeing the domestic market, weak Q2 earnings and stretched valuations.

The BSE benchmark Sensex hit its record peak of 85,978.25 on September 27 this year, and the NSE Nifty also reached a lifetime high of 26,277.35 on the same day. However, markets came under bear attack from October onwards. The BSE benchmark gauge is down a massive 8,397.94 points or 9.76 per cent from its all-time high, and the Nifty has also lost 2,744.65 points or 10.44 per cent from the record.