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Indian markets decline as Nifty falls below 23400 amid earnings concerns

Indian equity markets continued their decline on November 18, with the NSE Nifty 50 falling below 23,400 and the BSE Sensex down over 10% from its September high. A selloff in IT stocks and concerns over US interest rate cuts contributed to the downturn, as foreign institutional investors maintained their selling streak. Analysts suggest the Nifty may test the 23,000 level, presenting potential buying opportunities for long-term investors.

nifty 50 may drop to 23000 as market faces challenges

Rajkumar Singhal, CEO of Quest Investment Advisors, anticipates further declines in the Nifty 50, potentially reaching 23,000, despite a recent 10% market correction. He emphasizes investment in sectors aligned with India's growth, particularly in consumption and infrastructure, as the government focuses on enhancing power, railways, and telecom. In U.S. monetary policy, conflicting forces under a potential Trump administration may hinder a significant Fed rate cut, as inflation rises amid tax cuts and tariffs, while government efficiency efforts take time to impact.
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