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The Indian stock market faced a significant downturn, with the Sensex plummeting over 800 points for the fourth consecutive day, driven by rising crude oil prices, a weakening rupee, and substantial foreign capital outflows. The overall market capitalization of BSE-listed firms fell by approximately ₹5 lakh crore within minutes of trading, reflecting investor losses of about ₹17 lakh crore over the past four sessions. Concerns over slowing economic growth and disappointing earnings forecasts further exacerbated market pressures, prompting analysts to predict a challenging outlook for the near term.
The Sensex surged by 702.50 points to close at 79,746.24, while the Nifty rose by 209.20 points to 24,123.40, driven by gains in pharma, infrastructure, energy, and auto sectors. Despite this rebound, experts caution that ongoing FII selling and other negative factors may hinder a sustained recovery, advising investors to remain cautious.
Indian stock markets have faced a downturn over the past two months, impacted by weak Q2 earnings and persistent selling by foreign institutional investors (FIIs). Although there was a temporary boost in sentiment due to reduced FII selling and consistent buying by domestic institutional investors (DIIs), FII selling surged again, highlighting the need for sustained positive momentum to improve market conditions.
Benchmark indices Nifty and Sensex experienced their largest surge in two months on November 19, with the Sensex rising by 833.06 points to reach 78,172.07 and the Nifty climbing 240.70 points to 23,694.50. This broad-based buying, particularly in auto and realty stocks, added Rs 5 lakh crore to investor wealth, following a seven-session decline. However, experts caution that this rebound may not indicate a full recovery, advising investors to wait for clearer market signals before making moves.
Indian equity markets are experiencing a significant downturn, with the Nifty 50 and Sensex both dropping 3% last week. The Nifty has fallen below the 100-day EMA and the critical level of 24,200, prompting experts to predict a potential decline to 23,894 and further to 23,455. A "sell on rally" strategy is recommended, with particular attention on ICICI Bank's earnings reaction, alongside reports from Bharti Airtel, Sun Pharma, and Ambuja.
The Nifty has declined 7% from its record high of 26,277 in late September, influenced by disappointing Q2 earnings, ongoing FII selling, and geopolitical tensions in the Middle East. Analysts suggest that a further 3-4% drop could lead to a healthy 10% correction, potentially setting the stage for a market recovery.
Ajit Mishra
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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