India's stock market experienced dramatic swings in 2024. After reaching record highs, the Nifty 50 plunged nearly 11% from its September peak due to persistent selling by foreign portfolio investors (FPIs) in the following two months.
The selling was driven by increased allocations to China and concerns surrounding muted earnings growth during the second quarter. A weakening rupee further dampened market sentiment.
The market is currently showing some signs of recovery, rebounding roughly 4% from its trough.
Mint explores whether this correction has presented attractive buying opportunities for some investors by alleviating concerns of an over-valued market.
An analysis of all NSE-listed stocks reveals that only 1% are currently trading at their 52-week high, indicating widespread declines from peak values. Nearly half are down more than 25% from their 52-week highs, while another one-third have declined between 10% and 25%.
This story is from the January 03, 2025 edition of Mint Chennai.
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This story is from the January 03, 2025 edition of Mint Chennai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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