Indian Stock Market Faces Turbulence Amid Multiple Concerns

Indian Stock Market Faces Turbulence Amid Multiple Concerns
Indian Stock Market Faces Turbulence Amid Multiple Concerns/Mint
Indian Stock Market Faces Turbulence Amid Multiple Concerns
Indian Stock Market Faces Turbulence Amid Multiple Concerns/Mint

Indian Stock Market Faces Turbulence Amid Multiple Concerns

Indian Stock Market Faces Turbulence Amid Multiple Concerns

Indian Stock Market Faces Turbulence Amid Multiple Concerns

Key Highlights:

  1. Nifty 50 index witnesses a significant decline of nearly 360 points over the past three trading sessions.
  2. Sensex records a decline of 438 points, shedding a total of 1,100 points over the last three sessions.
  3. Mid- and small-cap stocks experience notable selling pressure, with indices plummeting by 3% and nearly 4%, respectively.

Recent volatility has engulfed the Indian stock market, driven by a confluence of factors including uncertainty surrounding national elections, persistent foreign selling, elevated valuations, mixed Q4 earnings, and rising geopolitical tensions.

The Nifty 50 index has experienced a sharp downturn, shedding nearly 360 points from its peak of 22,794 points reached on May 3rd. Similarly, the Sensex has recorded a decline of 438 points in today’s trade, totaling a loss of 1,100 points over the last three sessions.

Amidst this downturn, mid- and small-cap stocks have borne the brunt of the sell-off, with the Nifty Midcap 100 index witnessing a decline of 3% and the Small Cap 100 index plummeting nearly 4% during the same period.

Foreign portfolio investors have been significant sellers, offloading Indian shares worth ₹3,668.84 crore on Tuesday alone. Meanwhile, domestic institutional investors bought a net of ₹2,304 crore in stocks, indicating mixed sentiments in the market.

The volatility index (VIX) rose by 7.7% to 18.32, hitting a 15-month high for the third consecutive session on Wednesday. Analysts predict heightened intraday volatility leading up to the election results on June 4th, with key support and resistance levels for the Nifty anticipated at various price zones.

Source: Mint

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