Indian stock markets saw a sharp selloff on Friday as Sensex and Nifty fell more than 1 percent. The decline was driven by passive fund flows tied to MSCI index reshuffles.
Markets lost Rs 6 lakh crore in capitalization during the session. Volatility increased as traders reacted to the moves with limited directional momentum.
Indian stock markets recorded their steepest single-day decline in nearly a month. The drop followed a worldwide selloff in technology shares and concerns over possible US interest rate moves.
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Indian stock markets fell sharply for a fifth straight session on Friday. The Sensex dropped 332 points while the Nifty ended below 23,800. Oil prices above $100 per barrel and foreign institutional investor selling contributed to the decline.
Global fund managers are reconsidering exits from Indian stocks as falling oil prices and rupee stabilization reduce key concerns. Daily foreign selling has slowed while inflows into India-focused ETFs have turned positive. Analysts note that attractive valuations could support a market rerating if earnings growth holds.
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Indian equities rose more than 1 percent on Monday amid optimism over a potential peace deal between the United States and Iran. Broader Asian stocks also posted modest gains following the news. Traders reduced bearish positions as crude oil prices eased.
Metal stocks saw a sharp downturn Tuesday with the Nifty Metal Index falling 3.2 percent.