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Markets log biggest fall in two months as FPIs resume selloff
Business Standard
|November 29, 2024
IT, auto stocks saw steepest drop while five Adani group firms settled higher
Benchmark indices logged their worst single-day decline in nearly two months as foreign portfolio investors (FPIs) resumed selloff, triggered by uncertainty over the US interest rate outlook after the latest inflation data showed a stubbornly strong print.
The Sensex dropped 1,190 points, or 1.5 per cent, to close at 79,044, while the Nifty 50 index declined 361 points, or 1.5 per cent. The fall was the biggest single-day decline for both indices since October 3 and wiped out ₹1.5 trillion in market capitalisation. The India VIX, a gauge of market volatility, rose by 3.9 per cent to 15.2.
This story is from the November 29, 2024 edition of Business Standard.
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