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.
Denne historien er fra November 14, 2024-utgaven av The Business Guardian.
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