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Market move▼ Bearish for Indian equities
Nifty 50 is breaking long-held supports as selloff deepens
The brief
- Nifty 50 fell for seven straight weeks, wiping out nearly $250 billion in market cap
- The index broke below its 200-day moving average on a weekly basis
- India’s economy resilient, but Nifty falls 13% YTD: Why markets and macro are telling different stories
- Top stocks to buy or sell in F&O segment: Alkem Lab, KFin Tech, Amber Ent by Jay Thakkar - Check short-term targets
- Nifty falls below 200-week moving average near 22,600 for first time since Covid
- Market wrap: Adani Enterprises, Adani Ports, Titan Company, Wipro top gainers and losers on Nifty and Sensex on Tuesday
- Vedanta Iron & Steel to enter Nifty 500, Nifty Smallcap 250 from September 30
Nifty 50 selloff and support breakdown
The Nifty 50 fell 12% from its September 2024 peak; Metals and PSU Banks outperformed, while Technology, Consumer, Media and Real Estate lagged. The index then fell for seven straight weeks, wiping out nearly $250 billion in market value.
Tuesday, 29 September
- Nifty 50 is breaking long-held supports as selloff deepens