11 months ago
Selling pressure in market may continue on FII outflows
New Indian ExpressNEW DELHI: Domestic equity market benchmarks BSE Sensex and NSE Nifty50 closed in the red for the third straight session. After shedding over 2% each on Wednesday, Sensex closed 313.90 points or 0.44% lower at 71,186.86, Nifty fell 109.70 points or 0.51% to settle at 21,462.30. Vinod Nair, head of research, Geojit Financial, said based on initial Q3 results, corporate earnings growth doesn’t align with the market’s high valuation. “Simultaneously, FIIs are exercising caution on emerging markets, considering the possibility that the Fed may not implement rate cuts as aggressively in CY24 as initially forecasted.
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