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Market move▼ Bearish for Indian equities
Code red! NSE breadth breaks down as 350 out of 500 stocks crash up to 60% in two month selloff
The brief
- NSE 500 has seen declines in numerous stocks amid economic pressures and foreign selling
- Broad declines and foreign selling weigh on Indian equities, particularly companies in the NSE 500
- India faces stiff capital-flow challenge amid global AI, manufacturing race
- September pain on Dalal Street: FPIs pull out 46k crore from equities
- Sensex down 100 pts, Nify below 22,600: FII outflows among key factors behind market decline
- Markets open lower as FII selling, high bond yields weigh on sentiment
- Predicting FII flows akin to predicting mood swings: DSP MF CIO Anish Tawakley
Indian IT stocks’ September sell-off
Nifty IT fell more than 11% in September, compared with a 6% decline in the Nifty 50, while Infosys, Wipro and Tata Elxsi touched 52-week lows. The sector briefly rebounded on September 30, ending an eight-session losing streak, but Jefferies remained cautious.
Thursday, 1 October
- Code red! NSE breadth breaks down as 350 out of 500 stocks crash up to 60% in two month selloff