The NSE Nifty 50 index has fallen more than 10 percent from its peak on September 27, 2024, entering correction territory.

On November 13, the index dropped 374 points to a low of 23,509.6, representing a decline of 1.6 percent from the previous close. The BSE Sensex also experienced significant losses, reaching a low of 77,533.3 during the trading session. This marks the fifth consecutive session of losses for both indices, driven by selling pressure from foreign institutional investors (FIIs).

Investor sentiment has been negatively impacted by concerns over high valuations and macroeconomic uncertainties. Consequently, both the Nifty and Sensex have reached their lowest levels in five months, indicating growing caution among investors in the current market environment.