sensex drops 1,823 points this week; stock markets crash today, market falls: on the last trading day of the week of october 25, the indian benchmark indexes, the bse sensex and nifty 50, fell even further. The ongoing selling by foreign institutional and portfolio investors (fiis/fpis) on related fears is what caused today’s market meltdown.
Indian stocks are worth a lot, and economies like china provide more affordable possibilities. On friday, october 25, the bse sensex lost 927 points to an intraday low of 79,138, while the nifty 50 fell 325.5 points to 24,074, bringing the bse sensex down 1,822.7 points, or 2.2 percent, to below 80,000. Geojit financial services senior investment strategist gaurang shah blamed this week’s drop on subdued quarterly profits and fiis’ persistent selling since early october.
In october, fii sales nearly reached rs 1 trillion. The head of retail research at hdfc securities, deepak jasani, agreed with shah’s assessment, adding that the main causes of this week’s slide were soft guidance from several firms, subdued profits growth, panic selling by retail investors, and selling by overseas investors. Domestic institutional investors (DIIS) made net purchases totaling rs 92,932 crore over the same period, somewhat offsetting the impact of foreign investors’ ongoing selling.”The optimistic trajectory of the market has not been consistent with the fall in profits growth, resulting in selling pressure with each market upturn, which has changed the near-term.
