The Indian stock markets on Thursday slumpped drastically after witnessing a selling pressure in major markets around the globe and indication from the US Federal Reserve of fewer rate cuts next year, less than anticipation of three or four.
Indian stock markets tanked sharply on Thursday following the selling pressure in major markets around the globe after the US Fed showed signs of fewer rate cuts next year.
Indian stock markets declined after opening flat on Monday, with selling pressure mounting after lower-than-expected GDP numbers were released last week.
Domestic stock markets saw selling pressure on Thursday due to the decline in tech heavyweight stocks, lack of major global cues, and weak Asian market.
Indian stock markets opened flat on Thursday amid selling pressure in other Asian markets. However, a buying trend was observed due to the return of foreign investors.
Despite a period of high selling pressure in the stock markets since October, over 13 lakh new investors joined the Indian stock market, according to the latest data released by the National Stock Exchange (NSE).
Indian stock market indices started the fresh week on a positive note on Monday as both indices gained in the opening session but the selling pressure continues to remain.