Indian stock markets faced significant declines for the fifth consecutive day, driven by disappointing earnings, foreign fund outflows, and rising inflation concerns.

Indian stock markets faced significant declines for the fifth consecutive day, driven by disappointing earnings, foreign fund outflows, and rising inflation concerns.

Benchmark stock indices in India witnessed a significant decline for the fifth consecutive day, reaching multi-month lows. This downturn was driven by a combination of factors, including disappointing Q2 earnings, ongoing foreign fund outflows, and mounting concerns over rising domestic inflation.

The Sensex closed at 77,691 points, down 984 points or 1.25%, while the Nifty ended at 23,559 points, down 324 points or 1.36%. The day's trading saw all sectoral indices in the red, reflecting broad-based losses across the market.

ICRA Analytics highlighted that the Indian equity markets opened on a positive note but quickly succumbed to a sell-off, which swept through all sectors. The primary catalysts for this were a rise in the US dollar index and persistent foreign fund outflows. Despite a brief period of optimism following the US elections, the Indian market's attention has largely shifted to domestic factors.