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Mkt sees biggest weekly fall since June 2022 as FIIs offload shares
The New Indian Express
|October 05, 2024
DOMESTIC equity market saw its biggest weekly fall this week in over two years (since June 2022) as foreign institutional investors (FIIs) pressed the sell button to bet on China and Hong Kong amid rising tension in the Middle-East, which is posing inflationary challenges to the global economy following a sharp surge in oil prices.
Benchmarks BSE Sensex and NSE Nifty50 shed up to 4.5% during the week ending October 4. It was in the week between June 6 and 10, 2022, when the benchmarks had registered a bigger fall as Nifty50 had then declined by about 5.6%. Investors lost a 17 lakh crore this week as the combined market capitalisation of BSE-listed companies, which stood at 478 lakh crore as of closing last Friday, came down to 461 lakh crore this Friday.
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