THE bear run in Indian stock markets continues unabated with benchmark indices Sensex and Nifty shedding 10% since their peak on 27th September. On Wednesday, the Sensex and the Nifty fell by another 1.3%, stretching their downward trend for the 5th day on a stretch.
On Wednesday alone, investors lost nearly ₹8 lakh crore, taking the total erosion of wealth to ₹48.50 lakh crore since September 27.
"The correction reflects investors' growing caution amid rich valuations and macroeconomic uncertainties, with both Nifty and Sensex falling to their respective five-month lows today," says Vikram Kasat, head - advisory, PL Capital - Prabhudas Lilladher.
He further added that the latest downturn was intensified by sustained foreign investor outflows, disappointing corporate earnings, and rising inflation. The government on Wednesday announced that October retail inflation had reached 6.21%, the highest in 14 months.
This story is from the November 14, 2024 edition of The New Indian Express Bengaluru.
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This story is from the November 14, 2024 edition of The New Indian Express Bengaluru.
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