Stock market news: The Indian stock market has been under the sell-off heat for nine straight sessions. After bleeding for two successive weeks, Dalal Street has been trading red since early morning deals on Monday. The Nifty 50 index opened lower at 22,809 and touched an intraday low of 22,725, recording over 1,000 points loss in the last nine successive sessions. The BSE Sensex today opened with a downside gap at 75,641 and touched an intraday low of 75,294 within a few minutes, logging nearly 3,200 points loss in nine straight sessions. Likewise, the Bank Nifty today opened lower at 48,880 and touched an intraday low of 48,525 during Monday’s dealings, registering around 1,857 points correction in the recent sell-off on Dalal Street.
According to stock market experts, Dalal Street is under selling pressure due to five crucial reasons: economic uncertainty, weak Q3 results season, weak INR, FIIs’ selling, and fast-ending FY 24. They said that selling across segments is also a reason for continued weakness in the Indian stock market.
1] Economic uncertainty: “Several factors contributed to the market downturn, with sentiment being particularly rattled by U.S. President Donald Trump’s announcement of reciprocal tariffs on US trading partners,” said Puneet Singhania, Director of Master Trust Group.
2] Weak INR: “Weakness in the Indian National Rupee (INR) is putting doubts into the minds of domestic institutional investors (DIIs) and hence they are not coming forward to pare the losses incurred due to FIIs’ selling,” said Avinash Gorakshkar, Head of Research at Profitmart Securities.
Gorakshkar added that FIIs’ selling is across segments; hence, all segments have received a heavy correction in the last nine sessions. In fact, the broader market has received more beating than the frontline indices.
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