Investors Recoil as Indian Markets Slide

The Indian equity markets plunged, eroding Rs 6.80 lakh crore from investors' wealth, led by a steep decline in IndusInd Bank shares. The fall was exacerbated by foreign fund outflows, disappointing corporate earnings, particularly in the consumption sector, and mounting valuation concerns.

On Friday, investors faced significant losses as Indian equity markets experienced a steep decline, wiping out Rs 6.80 lakh crore of wealth. The downturn was driven primarily by IndusInd Bank's shares plummeting, coupled with consistent foreign fund outflows.

The BSE Sensex fell 662.87 points to settle at 79,402.29, plummeting by as much as 1.15% during the day's trade. These developments can be attributed to foreign institutional selling due to valuation concerns and comparative market appeal in China.

Furthermore, disappointing earnings, notably in the consumption sector, have stirred economic slowdown fears. Market analysts, including Prashanth Tapse, highlight the ongoing turbulence as a complex interplay of local economic signals and broader international market dynamics.

(With inputs from agencies.)