Stock indices settled substantially lower Thursday, with foreign portfolio investors (FPIs) continuing to offload their assets in India lately, coupled with lower-than-expected July-September earnings of India Inc.
Indian markets opened flat on Diwali, with both indices struggling between bears and bulls. The Nifty index traded flat with a marginal dip at 24,326.75, down by 0.06 percent during the opening session, while the BSE Sensex index also dipped marginally to trade almost flat at 79,859.62 poin
The Sensex plunged by 662.81 points, ending the day at 79,402.29, while the Nifty fell 218.60 points to close at 24,180.80. Among Nifty-listed companies, only 12 stocks advanced, whereas 38 stocks declined, reflecting a broad-based sell-off across sectors.
The Sensex fell by 84.98 points, opening at 80,166.96, while the Nifty slipped by 15.35 points to start at 24,420.15. Among Nifty companies, market breadth was slightly negative, with 21 stocks advancing, 27 declining, and 2 remaining unchanged.
The selling pressure continues in the Indian markets on Wednesday for the third consecutive day this week as the bears continuously pull the indices down.
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