Sensex extends losses to 6th session in a row; what weighs on Indian stock market? EXPLAINED with 5 crucial reasons
1 month, 2 weeks ago

Sensex extends losses to 6th session in a row; what weighs on Indian stock market? EXPLAINED with 5 crucial reasons

Live Mint  

Extending its losing streak to the sixth consecutive session, the Indian stock market benchmark Sensex crashed over 900 points in intraday trade on Wednesday, February 12, amid mixed global cues. In these six days of the market rout, the Sensex has plunged 2,413 points, or 3 per cent, while the Nifty 50 has lost 694 points or 2.92 per cent. "Unsubstantiated fears regarding higher tax rates on financial securities due to the implementation of the New Income Tax Bill also triggered panic selling among weak market participants. A confluence of factors, including stretched valuation of the Indian stock market, signs of growth losing momentum, weak quarterly earnings, the rupee's weakness, stronger US dollar and elevated bond yields, have triggered a massive foreign capital outflow from the Indian stock market.

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