Brief by Shorts91 Newsdesk / 07:13am on 04 Nov 2024,Monday Business
The Indian stock market faced a sharp decline on November 4, with the Sensex and Nifty 50 dropping almost 2% each. Mid and small-cap indices also plunged by 2%, leading to a market capitalization loss of ₹9 lakh crore. Factors contributing to the selloff include caution ahead of the US election, high valuations, weak Q2 earnings, and heavy selloff by foreign portfolio investors (FPIs). Additionally, concerns about US Federal Reserve policy and global uncertainty have pressured investor sentiment. Analysts expect the market to remain volatile, with key support levels being tested this week.
