Record-setting stock market tumbles 10%, Sensex-Nifty tumbles from all-time highs

Stock market: The stock market, which had set a record in 2024, is now down 10%. Sensex and Nifty, the key sensitive indices of the Mumbai Stock Exchange (BSE) and the National Stock Exchange (NSE), fell, well behind their all-time highs. These two major stock indices, BSE Sensex and NSC Nifty, have been on a steep decline this year after hitting record highs. On September 27, the Sensex-Nifty hit an all-time high. According to news agency PTI's Hindi branch, the Nifty fell 10% from its record high amid withdrawal of foreign investors, weak results of companies in the second quarter and increased valuations. It further declined in September. The BSE Sensex hit a record high of 85,978.25 on September 27 this year. The Nifty also touched an all-time high of 26,277.35 on the same day. However, markets fell into recession since October. The Sensex was down 8,397.94 points or 9.76% from its all-time high. The Nifty also fell by 2,744.65 points or 10.44% from a record high. Also Read: Government pressure on RBI to cut interest rates, foreign investors withdraw Rs 94,000 crore denied Shaktikanta Das, Santosh Meena, head of research at Swastika Investmart Ltd, said high valuations had already raised concerns, but the stimulus package was diverted in China. Flow of Foreign Institutional Investors (FIIs) from India to China. Weak results in the second quarter further fueled this migration. Apart from this, the rise in US bond yields and the dollar index added to the pressure due to which FII withdrawals increased. Foreign investors withdrew Rs 94,000 crore from the Indian stock market in October. The biggest disappointment this quarter came from FMCG stocks, where strong earnings expectations fell short. Also read: Half of people in India don't know pay-in and pay-out rules, if you know you will become a big player in the market. All-time high appeared first on Morning News