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Market move▼ Bearish for Indian equities
Stock markets fall for fourth day on relentless foreign fund outflows; Sensex drops 570 points
The brief
- Sensex dropped 570 points as markets fell for a fourth straight day
- Brent crude rose 2.77% to $100.8 per barrel
- FII selling and higher crude weigh on Indian equities, especially oil-import-sensitive sectors
- Rupee sinks to two-month low amid FPI selling and rising US yields
- Rupee may weaken to 97, slide to 98.5-99 if key level breaks: Kotak Securities
- FPIs sell Rs 3 lakh crore in secondary market, but invest Rs 55,000 crore in primary market
- Foreign capital is slipping away. Can India lure investors back?
- At 52-week lows: RIL, ONGC, M&M, Airtel, PB Fintech, 69 other BSE500 stocks
Indian stocks fall amid oil-led foreign outflows
Indian equities suffered their worst September quarter in more than a decade as rising crude prices and foreign selling weighed on markets. FPIs withdrew $2.7 billion in September, while the Sensex fell for four straight days by October 1 and Brent crude rose to $100.8 a barrel.
Thursday, 1 October
- Stock markets fall for fourth day on relentless foreign fund outflows; Sensex drops 570 points