India's Nifty 50 and Sensex indices have seen a decline of around two percent over the past five trading sessions, contrasting with a five percent rise in global indices like the S&P 500 and Dow Jones.

This decline is part of a broader trend in Asia, where leading indices such as Hang Seng and Kospi fell by 5.5 percent and 7 percent respectively.

The slump in the Indian market is attributed to disappointing domestic corporate earnings, with India Inc reporting a net profit growth of only 3.6 percent for the September quarter, the slowest growth in 17 quarters.

This sluggish performance is linked to weak revenue growth, increasing interest and depreciation costs, and marginal increases in total expenses and other income.