Indian Indices Experience Sharp Decline Amid Volatility

Indian Indices Experience Sharp Decline Amid Volatility

VoM News Desk | January 8, 2024 | 10:55 PM IST | Breaking News | Follow on Google News

Indian Indices Experience Sharp Decline Amid Volatility/Mint

Indian Indices Experience Sharp Decline Amid Volatility

Indian benchmark indices, Sensex and Nifty, witnessed a significant decline on Monday amidst volatile trading sessions. The Sensex concluded at 71,355.22, marking a decrease of 671 points, while the Nifty closed 0.9% lower at 21,513. The India VIX, reflecting market volatility, surged by 7%. Except for the media sector, most sectoral indices ended in negative territory, with banking and FMCG sectors experiencing substantial setbacks. Midcaps and smallcaps also registered losses, trailing the benchmark indices.

Investor focus is expected to gravitate towards the impending quarterly results of major IT giants like TCS and Infosys, alongside global market trends. Additionally, keen attention will be paid to macroeconomic indicators such as December’s inflation figures and November’s industrial production data, scheduled to be released after market hours on Friday.

According to AMFI data, inflows into India’s equity mutual funds surged in December, primarily fueled by a sustained inclination towards small-cap stocks. Last month, net equity mutual fund inflows soared to 169.97 billion rupees from 155.36 billion rupees in November.

Meanwhile, Asian stocks faced a downturn, influenced by losses in Hong Kong and China amid apprehensions regarding tighter regulations on the gaming industry. Concerns also arose over the perceived inadequacy of the Chinese government’s initiatives to bolster the economy. S&P 500 futures remained relatively unchanged. Hong Kong’s Hang Seng Index, China’s Shanghai Composite Index, and Australia’s S&P/ASX 200 Index experienced declines, while Japanese markets remained closed for the day.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.