An index or a stock is said to be in the 'correction' phase when it dips more than 10 per cent and up to 20 per cent from its peak. A fall of 20 per cent or more is termed as a 'bear' phase.
The Nifty Media (down over 47 per cent) is the only sectoral index to slip into 'bear' phase with a fall of more than 20 per cent from the all-time high it hit in January 2018. The Nifty Realty index is also veering close to the bear territory with a fall of nearly 17 per cent from its peak levels hit in May 2008.
Nifty Pharma, Services Sector, Financial Services, Bank and IT indices have lost between 2 per cent and 7 per cent from their recent all-time highs.
Nifty 50, Nifty 500, Nifty Midcap 100 and Nifty Smallcap 100 are on the verge of slipping into correction mode, losing more than 8 per cent from their peak levels in September 2024.
This story is from the November 13, 2024 edition of Business Standard.
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This story is from the November 13, 2024 edition of Business Standard.
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