Global Tensions Trigger Downturn in Indian Stock Markets
Indian stock markets experienced a downturn as investors responded to global uncertainties and continued foreign institutional investor outflows. The Sensex and Nifty indices showed significant declines. Market sentiment was influenced by U.S. election outcomes, anticipated Chinese stimulus, and rising geopolitical concerns. The trend signals continued market volatility.
- Country:
- India
On Friday, Indian stock markets faced a challenging opening with significant declines following global uncertainties and continued foreign institutional investor (FII) outflows. The Sensex plummeted by 377.73 points to 79,164.55, while the Nifty dropped by 121.30 points to 24,078.05. Only eight companies in the Nifty 50 advanced, indicating broad-based sector pressure.
Global market sentiment remains fraught with tension due to the aftermath of the U.S. Presidential election, anticipation of more Chinese stimulus, and fresh geopolitical concerns in the Middle East. Among the few gainers in the Nifty 50 were Infosys and Apollo Hospitals, while prominent losers included BPCL and Reliance.
Banking and marketing expert Ajay Bagga attributed the downturn to a mix of global and domestic influences. 'With geopolitical risks rising and reports of escalating tensions in the Middle East, markets are reacting adversely,' Bagga stated, highlighting significant FII outflows of Rs 16,000 crore in early November. The analysis shows a restrictive trend until foreign sales stabilize.
(With inputs from agencies.)